February 22, 2013 / 2:41 PM / in 5 years

STXNEWS LATAM-Stock rating, price target activity in Brazil for Friday

The following is a list of price target and rating activity for Brazilian stocks for Friday:

Brasil Plural Securities analysts led by Renato Antunes cut the price target on preferred, Class A shares of Usinas Siderúrgicas de Minas Gerais SA to 11.5 reais from 12 reais, keeping the recommendation at “underweight.”

Analyst Rodolfo de Angele of JPMorgan Securities cut the price target on preferred shares of Metalúrgica Gerdau SA to 31.5 reais from 32 reais. The “overweight” recommendation on the stock was maintained.

De Angele also cut the target on shares of Gerdau SA to 20 reais from 20.5 reais, but raised the recommendation on the stock to “overweight” from “neutral.”

Analyst Edmo Chagas of BTG Pactual Group also trimmed the target for shares of Gerdau to 18 reais from a prior 20 reais. The “neutral” recommendation on the stock was maintained.

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