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Fly News Breaks for September 20, 2019
CZZ
Sep 20, 2019 | 06:34 EDT
Morgan Stanley analyst Javier Martinez de Olcoz Cerdan downgraded Cosan to Equal Weight from Overweight while raising his price target for the shares to $16 from $14. The analyst says that while he still sees a recovery in sugar prices ahead, Indian sugar may continue to pressure prices in the coming months. His downgrade of Cosan reflects valuation as he believe the stock has reached fair valuation following the recent nonperformance.
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