Brazilian Financials to Rebound on Economic `Improvement,' Barclays Says
Brazil’s economic “improvement” will spur financial stocks to recover from the selloff that caused the benchmark Bovespa index to drop 19 percent from an April high, Barclays Plc said.
Investors should buy companies including Itausa - Investimentos Itau SA, the owner of Latin America’s largest bank by market value, and exchange-operator BM&FBovespa SA, analysts including Roberto Attuch wrote in a note to clients today.
Brazilian banks, which are trading at “more attractive” valuations than their Latin American peers, will see “robust growth and quality earnings,” the analysts wrote.
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