JPMorgan analyst Lucas Ferreira upgraded BRF S.A. to Overweight from Neutral with a price target of R$20, up from R$18. The firn cites the company’s accelerating international market for the upgrade, which it says is contributing to an improved outlook with good earnings momentum ahead of Q1. The improving outlook both domestically and in the international market lead JPMorgan to increase its Q1 EBITDA estimate again, and the firm also expects improving margins.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
