Goldman Sachs Maintains Sell Rating for Bank Bradesco: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Goldman Sachs has reaffirmed its Sell rating on Bank Bradesco (NYSE:BBD), reducing the price target from $3.20 to $2.80. Despite this, Bank Bradesco's shares remained stable over the last 24 hours at $2.83. The new price target suggests a slight potential decline of 1.06% from the current price. Bank Bradesco, Brazil's second-largest private bank and leading insurance provider, acquired HSBC's Brazilian operations in 2016.
February 08, 2024 | 5:00 pm
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Goldman Sachs maintains a Sell rating on Bank Bradesco, lowering its price target from $3.20 to $2.80, indicating a potential 1.06% decline.
The reaffirmation of the Sell rating and reduction in price target by Goldman Sachs directly impacts Bank Bradesco's stock by suggesting a potential downside. Given the bank's significant role in Brazil's banking and insurance sectors, analyst ratings and price targets are closely watched by investors. The slight potential decline indicated by the new price target could influence investor sentiment and stock performance in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100