Economy
JPMorgan downgrades homebuilders and malls post-election, picks new favorites
The bank upgraded Cury, Direcional, and Tenda, betting on the resilience of the Minha Casa Minha Vida program amid rising interest rates and currency depreciation.
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The essentials of this story
- What happened
- JPMorgan adjusted investment recommendations for several sectors of the Brazilian stock market following the presidential election.
- Who is affected
- Investors and companies in the construction, shopping mall, and capital goods sectors.
- What changes
- Shares of low-income homebuilders and exporters gained preference, while stocks of shopping malls and mid-income developers were downgraded.
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