AmTech Initiates Coverage on B2W - Companhia Global Do Varejo (BTOW3.SA) With a Buy
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American Technology Research initiates coverage on B2W - Companhia Global Do Varejo (BTOW3.SA) with a Buy rating and a year-end 2009 price target of R$150.
The firm highlighted:
- Explosive growth potential for e-commerce in Brazil
- Brazil's Internet user base is growing rapidly and, based on the relatively low penetration rate, has plenty of room left for upside
- GDP growth and interest rate differentials as well as secular bull markets for most commodities suggest that U.S. investors could benefit from exposure to the Brazilian Real
- E-commerce transformed the retail landscape in the U.S. and Europe and will do the same in Brazil.
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