Banco do Brasil Is Cheapest Stock as Impeachment Revived: Chartby
At 6 times estimated earnings for the current quarter, Banco do Brasil SA, Latin America’s biggest lender by assets, is trading at the cheapest valuation among the 59 stocks of the benchmark Ibovespa index. With five buy recommendations, 11 holds and three sells, it’s analysts’ favorite Brazilian state-owned company. The bank is the best choice for investors betting on a Brazilian rebound after the process to impeach President Dilma Rousseff got back on track, according to Jason Vieira, chief economist at Infinity Asset Management. The lender has suffered less intervention from the government than oil producer Petroleo Brasileiro SA and power utility Centrais Eletricas Brasileiras SA, he said.