Feb. 28 (Bloomberg) -- Equatorial Energia SA, 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.
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