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Fly News Breaks for April 10, 2019
CIG
Apr 10, 2019 | 06:48 EDT
JPMorgan analyst Fernando Abdalla upgraded Cemig to Overweight from Neutral and raised his price target for the shares to R$16 from R$15. Despite the "solid performance" since the election of governor Zema last October, the analyst still sees a "favorable risk-asymmetry." Asset sales are more likely to happen under Zema's administration, which should strengthen Cemig's capital structure and "de-risk the stock," Abdalla tells investors in a research note.
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