Morgan Stanley Upgrades Brazil Stocks to Buy
Morgan Stanley upgraded Brazilian stocks to overweight after the first round, and foreigners put US$2 billion into B3 on Monday. The post Morgan Stanley Upgrades Brazil Stocks to Buy appeared first on The Rio Times .
Morgan Stanley, a US investment bank, has upgraded Brazilian stocks to overweight, indicating a "buy" recommendation. The bank's optimistic scenario expects Brazil's main stock index, the Ibovespa, to reach 250,000 points, which is about 22% higher than Wednesday's closing price of 204,302 points. This scenario implies a potential 22% gain from Wednesday's level. The upgrade comes after the first round of Brazil's presidential election, with the bank's base forecast remaining unchanged.
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