The following is a list of price targets and rating activity for
Brazilian stocks on Tuesday:
1) Bank of America Merrill Lynch analysts led by Frank
McGann lowered the price target for U.S. traded shares of
Petróleo Brasileiro SA to $22 and $22.50,
respectively, from $24.50 and $25, previously. McGann raised his
target for the local shares to 27.50 reais
and 28 reais, from 27 reais and 27.5 reais previously. The
recommendation on the shares remains at "buy."
2) Deutsche Bank Securities analysts led by Mario Pierry
lowered the recommendation on shares of financial exchange
company BM&FBovespa SA to "hold" from "buy"
previously. Pierry and his team also trimmed the target on the
stock to 12 reais from a prior 16 reais, citing a higher cost of
equity, and potentially lower trading volumes amid rising
borrowing costs and a riskier perception of local markets in