Goldman Sachs Maintains Buy Rating for Bank Bradesco: Here's What You Need To Know

Goldman Sachs Maintains Buy Rating for Bank Bradesco: Here's What You Need To Know

Goldman Sachs has decided to maintain its Buy rating of Bank Bradesco BBD and raise its price target from $4.40 to $5.40.

Shares of Bank Bradesco are trading down 0.14% over the last 24 hours, at $3.67 per share.

A move to $5.40 would account for a 47.34% increase from the current share price.

About Bank Bradesco

Banco Bradesco is Brazil's second largest private bank, with about 15% of deposits, and the largest insurance provider in Brazil, with roughly 20%-25% market share. The bank is majority controlled by the Bradesco foundation--a private non-profit institution focused on education. Banking provides roughly 70% of profits, while the insurance segment contributes the remaining 30%. The bank is also a major asset manager with high-single-digit market share. In 2016, Bradesco acquired the Brazilian operations of HSBC.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Posted In: BZI-AAR-UPDATEAnalyst Ratings