Brazilian homebuilder Gafisa SA is poised for a turnaround and it should stop posting losses on troubled low-income housing projects by the end of this year, Credit Suisse analysts led by Guilherme Rocha told clients in a Thursday note.
"Gafisa started to deliver on its promises," Rocha wrote. "We are finally turning more positive on the turnaround story."
The analysts raised their recommendation of Gafisa shares to "outperform" from "neutral", anticipating a boost from the possible sale of the company's profitable Alphaville unit.
CORRECTED-UPDATE 2-U.S. to seek to block DraftKings, FanDuel fantasy sports merger
WASHINGTON, June 19 The U.S. Federal Trade Commission said on Monday it will seek to stop the merger of DraftKings and FanDuel, because the combined company would control more than 90 percent of the U.S. market for paid daily fantasy sports contests.