Odontoprev Gains as Credit Suisse ‘Bullish’ on Healthcare
Odontoprev SA (ODPV3), Brazil’s largest provider of dental-care plans, led gains for Brazilian health- care companies after Credit Suisse AG said it has a “bullish” view of the industry.
Odontoprev rose 4.3 percent to 24.46 reais at the close of Sao Paulo trading at 4:15 p.m. New York time. Fleury SA (FLRY3), a medical-services provider, increased 4.1 percent to 24.23 reais. Amil Participacoes SA (AMIL3), a Brazilian health insurer, rose 2.7 percent to 18.89 reais. The Bovespa index climbed 1.3 percent to 67,578.33.
“We believe a strong economy should lead to a larger percentage of the population with payroll jobs and higher income per capita, culminating in a higher penetration of health-care plans, exams and dental plans among Brazil’s population,” Natalia Lacava and Luiz Otavio Campos, analysts at Credit Suisse in Sao Paulo, said in a note to clients dated yesterday. “Our general view of the sector is bullish.”
Credit Suisse rates Amil and Odontoprev “outperform,” and Fleury “neutral.”
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