October 11, 2012 / 2:20 PM / 5 years ago

STXNEWS LATAM-J.P.Morgan raises Gafisa to 'neutral' on cash flow

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J.P. Morgan analysts raised their recommendation on shares of Brazilian homebuilder Gafisa to "neutral" on the prospects for positive free cash flow and a reduction in net debt in coming quarters.

The analysts, led by Adrian Huerta, also lowered their outlook for shares of Rossi Residencial from "neutral" to "underweight" after the company revised past financial statements, raising questions about accounting practices.

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