English
Français
Deutsch
Italiano
Português
Русский
Español
简体中文
日本語
By Jeffrey T. Lewis
SÃO PAULO–Fleury shares rose 2.5% after the Brazilian medical testing and services company’s rating was upgraded by analysts at Citi Research.
Shares reached 15.53 reais, the equivalent of $3.07, and were up 3% from the end of last year through Friday’s close. Brazil’s benchmark Ibovespa stocks index was down 0.8% in mid-morning trading.
Fleury was upgraded to buy from neutral by Citi Research analysts Leandro Bastos and Renan Prata after the company’s management signaled confidence its integration of former rival Hermes Pardini is going well.
Fleury has good opportunities to boost profitability as it gains synergies from that integration, the analysts said in a research note. Citi raised its target price for Fleury’s shares to 18.0 reais from BRL17.0, they said.
Write to Jeffrey T. Lewis at [email protected]
Read the full article here
