UPDATE: JP Morgan Upgrades Banco Bradesco to Overweight on Conservative Risk Management

JP Morgan raised its rating on Banco Bradesco BBD from Neutral to Overweight while reiterating a $19 price target. JP Morgan commented, "Bradesco benefits from an improving credit and policy backdrop (though maybe less than peers), while still being able to weather a downside case scenario for credit quality better than peers. More specifically, our upgrade to an Overweight rating reflects Bradesco's conservative risk management, diversified earnings stream, recent progress in improving operating efficiency, and what we consider to be an attractive valuation at 1.8x 12 Ebv and 9.0x 13E earnings." Banco Bradesco closed at $15.24 on Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorUpgradesPre-Market OutlookAnalyst RatingsJP Morgan
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!