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STXNEWS LATAM-Barclays ups targets for some Brazil banks after Cruzeiro demise
September 17, 2012 / 6:07 PM / 5 years ago

STXNEWS LATAM-Barclays ups targets for some Brazil banks after Cruzeiro demise

Barclays analyst Fabio Zagatti raised the price target on four Brazilian mid-sized lenders after recent measures to spur growth and growing loan demand among small enterprises are likely to offset the impact of the collapse of consumer lender Banco Cruzeiro do Sul. In a report, Zagatti upped the targets of Banco ABC Brasil to 20 reais from 19 reais; Banrisul to 22 reais from 20 reais; Bicbanco to 15 reais from 14 reais, and; Banco Daycoval to 14 reais from 13 reais.

“With this, rather than thinking of it as a negative sign that liquidity conditions among smaller banks are concerning, we think that those mid-sized banks we cover focused in small enterprise lending should be the ultimate beneficiaries of these measures, given their sound credit risk profiles,” Zagatti wrote.

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