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.
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