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Fly News Breaks for July 26, 2019
ABEV
Jul 26, 2019 | 06:48 EDT
JPMorgan analyst Lucas Ferreira upgraded Ambev to Neutral from Underweight with a price target of $5.50. The post-earnings share rally shows that investors are chasing good growth stories to play Brazil's economic recovery, Ferreira tells investors in a research note. He believes "lower growth tail risk" and easing comps in the second half of 2019 should drive a re-rating of the shares.
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