Brazilian miners, banks, homebuilders and transportation companies will likely eclipse gains for retailers, which have led this year’s advance in Latin America’s largest market, Goldman Sachs Group Inc. said.
Analysts at the New York-based bank added homebuilder PDG Realty SA Empreendimentos & Participacoes, payment processor Cielo SA, and private equity firm GP Investments Ltd. to its focus list of Latin American stocks, according to a note to clients today. Hypermarcas SA,
one of the consumer-goods companies that led gains this year, was removed.
“Commodity stocks we think will especially shine, as developed-market central banks provide a continued flow of liquidity,” wrote strategist Stephen Graham, who is “bearish” on Brazilian steelmakers. “Defensive utilities and telcos may not perform in the strong market we expect.”
Goldman expects the Bovespa stock index to rise 10 percent from Oct. 12’s closing price to 78,000 by yearend.
Consumer goods companies led gains the MSCI Brazil index’s 4.5 percent gain this year, while energy producers were the biggest laggards.
http://jodnet.blogspot.com
Analysts at the New York-based bank added homebuilder PDG Realty SA Empreendimentos & Participacoes, payment processor Cielo SA, and private equity firm GP Investments Ltd. to its focus list of Latin American stocks, according to a note to clients today. Hypermarcas SA,
one of the consumer-goods companies that led gains this year, was removed.
“Commodity stocks we think will especially shine, as developed-market central banks provide a continued flow of liquidity,” wrote strategist Stephen Graham, who is “bearish” on Brazilian steelmakers. “Defensive utilities and telcos may not perform in the strong market we expect.”
Goldman expects the Bovespa stock index to rise 10 percent from Oct. 12’s closing price to 78,000 by yearend.
Consumer goods companies led gains the MSCI Brazil index’s 4.5 percent gain this year, while energy producers were the biggest laggards.
http://jodnet.blogspot.com
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