Standpoint Research Downgrades Saneamento Brazil (SBS)

Standpoint Research has downgraded shares of Companhia de Saneamento Basico SBS from Buy to Hold. Standpoint recommended the stock on July 29, 2009. The stock has gained 32% since it was upgraded by the firm. Versus the S&P 500, the gain has been around 2500 basis points. Standpoint analyst Ronnie Moas wrote that "we still see value here and keep a $48 price target for 2011 and $55 for 2012," but that at a two year high, investors should consider taking profits in SBS. He also added that Standpoint would consider reinstating the recommendation if the shares were to fall into the mid-to-high $30s.