GPA’s Transformation Impresses, Yet Itaú BBA Remains Guarded

Itaú BBA has resumed coverage of Grupo Pão de Açúcar (GPA) – PCAR3 – with a “market perform” recommendation. They set a price target of R$3.70 for the end of 2024, suggesting a potential 19% increase from Wednesday’s closing price. GPA has undergone significant changes, resulting in a simpler structure and a focused approach on […]

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