STXNEWS LATAM-BofA Merrill Lynch trims Minerva price target

Fri Mar 22, 2013 9:01am EDT

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Bank of America Merrill Lynch analysts led by Fernando Ferreira trimmed the target price for Brazilian meatpacker Minerva SA to 14.5 reais from 15 reais on Friday, though they maintained a buy rating on the stock.

"Minerva remains the best way to play the positive cattle cycle in Brazil, though operating margins are shown to be weaker than previously expected," Ferreira wrote in a research note.

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