STXNEWS LATAM-Brazil's Cosan: BTG Pactual ups price target, estimates
Analysts at BTG Pactual Group led by Thiago Duarte raised the price target on shares of Brazilian sugar and ethanol producer Cosan SA, to account for higher estimates, lower taxes and an expected surge in margins at its fuel distribution unit. Duarte and his team upped the target on São Paulo-traded shares of Cosan to 55 reais from 52 reais, and for the U.S. traded-shares to $25.40. The analysts reiterated a "buy" recommendation on the name, which is also BTG Pactual's "top agribusiness pick" in the bank's stock coverage universe.
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