Barclays Upgrades BRF - Brasil Foods S.A. (BRFS) to Overweight

Barclays upgraded BRF - Brasil Foods S.A. (NYSE: BRFS) from Equalweight to Overweight with a price target of $8.00 (from $7.00).

Analyst Ben Theurer comments "...the main drivers of BRF's weak performance have been weak earnings, management missteps, export bans, trade tensions, and tougher competition in the volatile Brazilian market amid political issues. Despite these headwinds adding to already negative market sentiment, new CEO Mr. Pedro Parente has quickly brought in new measures to stabilize operations, including the divestment of operations in Argentina, Europe and Thailand, a 5% headcount reduction, and deleveraging to reach 4.35x net debt /EBITDA by year end 2018, and 3x by year end 2019."

For an analyst ratings summary and ratings history on BRF - Brasil Foods S.A. click here. For more ratings news on BRF - Brasil Foods S.A. click here.

Shares of BRF - Brasil Foods S.A. closed at $5.98 yesterday.

You May Also Be Interested In

• Macquarie Upgrades Broadcom Limited (AVGO) to Outperform
• Somnigroup (SGI) PT Raised to $102 at UBS
• Goldman Sachs Upgrades Zhejiang Huayou Cobalt Co Ltd. (603799:CH) to Neutral