Cemig, Energias do Brasil, Equatorial Rated ‘Buy’ at Santander

Equatorial Energia SA (EQTL3), a Brazilian electricity distributor, was raised to “buy” from “underperform” at Banco Santander SA.

Cia. Energetica de Minas Gerais, the state-controlled electricity utility serving Minas Gerais state, and EDP -- Energias do Brasil SA, were increased to “buy” from “neutral.”

The Brazilian electricity sector will benefit from higher inflation rates, analysts Marcio Prado, Andre Rezende and Maria Carolina Carneiro wrote in a note to clients dated today.

To contact the reporter on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos in New York at papadopoulous@bloomberg.net

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