O BB Investimentos reduced the target price stipulated for the company’s shares B3 (B3SA3) for the end of 2024 from R$ 15.60 to R$ 14.60, shows a report released late this Tuesday afternoon (23). The new value is equivalent to a potential increase of 31.6% compared to Tuesday’s closing, when the share closed at R$11.09.
The analyst William Bertan, who signs the report, maintains its purchase recommendation for the stock. He comments that the reduction in the target price is due to the fact that we are in a scenario different from the expectations of most of the market, without the expected recovery of risk appetite from investors who follow more resilient inflation data and the job market in the economy. American.
“Shares will accumulate a devaluation of more than 20% in 2024, influenced by revised expectations regarding the American monetary policy decision, which reversed the positive foreign capital flow observed at the end of 2023, and already exceeds R$30 billion in negative net balance year”, says Bertan.
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She also comments that B3 presented low average volumes traded in its main segment (listed) in the first months of the year. The average daily financial trading volume fell by 7.2% in March 2024, going from R$26.4 billion to R$24.5 billion. Comparing March with February 2024 there was a drop of 5.6%.
“Considering the representativeness of the segment in the company’s results and the global consequences of high American interest rates for a longer period of time, we reassessed the target price of B3’s shares, maintaining the purchase recommendation”, concludes Bertan.
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