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Fly News Breaks for October 17, 2018
CIG
Oct 17, 2018 | 16:34 EDT
UBS downgraded Cemig to Neutral from Buy, but raised its price target on shares to R$11 from R$10. The downgrade is based the stock's strong recent performance, which leaves it trading at fair value. Additionally, after the recent rally, which was likely driven by the election, the firm believes the risk-reward is no longer appealing. The stock could underperform if the final election results are different from what the market expects.
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