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Duratex Jumps as BTG Forecasts Demand From Builders

Duratex SA, the Brazilian producer of wood panels and bathroom fixtures, jumped the most in seven weeks after Banco BTG Pactual said “strong” demand from homebuilders will boost the company’s growth.

Duratex rose 3.3 percent to 16.44 reais, the steepest climb since Feb. 17.

“Lower interest rates, higher credit availability and increasing disposable income should continue to offer support” to Duratex’s growth, wrote analyst Edmo Chagas, who reiterated his “buy” rating on the company.

The government’s plan to help finance the construction of 2 million low-income homes by 2014 and reduced taxes on manufactured products will help demand, the Rio de Janeiro-based analyst wrote. Continued consolidation in the industry will likely boost the company’s pricing power, he said.

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