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Fly News Breaks for June 10, 2019
BBD
Jun 10, 2019 | 05:43 EDT
Goldman Sachs analyst Tito Labarta started Banco Bradesco with a Sell rating and $8 price target. He thinks further improvements in the company's profitability "will be harder to come by," given historically low interest rates." The analyst also thinks the bank is at a relative disadvantage to peers in the acquiring business, as it does not have full control of its merchant acquirer, Cielo. Labarta initiated coverage on Brazilian Financials with a cautious outlook on the banks, but a "more optimistic" view for non-bank financials.
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