The following is a list of price targets and rating activity for Brazilian stocks on Tuesday:
1) UBS Securities analyst Gustavo Piras Oliveira cut the price target on shares of Brazilian textile maker Cia Hering SA to 42 reais from 48.50 reais, with a “buy” recommendation.
2) Grupo BTG Pactual analysts led by Edmo Chagas trimmed the target on Vale SA’s preferred shares to 43 reais from 51 reais. The recommendation on the stock remained unchanged at “buy.” Vale is the world’s largest iron ore producer.
3) Credit Suisse Securities analysts led by Ivano Westin trimmed the target in preferred shares of Brazilian steelmaker Gerdau SA to 18 reais from a prior 22.1 reais. The recommendation was kept unchanged at “outperform.”