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Fly News Breaks for February 19, 2019
CZZ
Feb 19, 2019 | 06:19 EDT
JPMorgan analyst Lucas Ferreira upgraded Cosan to Overweight from Neutral and raised his price target for the shares to $13 from $12.50. The shares trade at an "excessive" 40% discount to net asset value, in the upper part of the 30%-40% range where the stock should be trading, Ferreira tells investors in a research note. With Cosan's recent focus on buybacks, the stock should be trading closer to s 30% discount, says Ferreira.
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