From UBS to JPMorgan, Brazil Stock Bulls Are Running Wild
From JP Morgan Chase & Co. to UBS Group, big Wall Street banks reinforced their bullish bets for Brazilian stocks this week, suggesting a year-long rally has further to go.
They are recommending clients to be overweight in stocks from Latin America’s biggest economy, saying a pickup in growth next year and record-low interest rates set a Goldilocks scenario for equities. The rally that took the Ibovespa benchmark index to an all-time high this month is just the start, they say.
By Aline Oyamada and Vinicius Andrade via Bloomberg