RIO DE JANEIRO, BRAZIL - (Bloomberg) The rally in Via Varejo SA shares still has some juice left as the Brazilian retailer’s turnaround initiatives start to bear fruit, according to Credit Suisse.
Fourth-quarter adjusted Ebitda margin will expand to 4.6 percent from 3.7 percent a year earlier, analysts Victor Saragiotto and Pedro Pinto wrote in a report dated Feb. 21. They increased their price target on the stock to R$21 reais from R$7. The shares closed at R$16.64 on Friday.
Numbers will likely show an earlier-than-expected recovery in profitability and improvement . . .
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