Citi downgraded Banco do Brasil (BDORY) to Neutral from Buy with a price target of R$25, down from R$34. Brazilian banks have delivered strong earnings growth in recent quarters, but going forward, the combination of tougher macro conditions and an extended credit cycle could translate into “potential lukewarm revisions” in 2025 estimates, the analyst tells investors in a research note. Citi sees a challenging setup and says most profitability levers have already explored, leaving marginal room to improve profitability.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio