Bank of America (BofA) has upgraded WEG (WEGE3) to ‘buy’ from ‘neutral’ and raised the target price to R$ 52 from R$ 44. By midday Monday, WEG’s shares had climbed 3.18%, reaching R$ 43.53. BofA analysts defy market expectations by predicting margin improvements. Rising copper prices and a 12% drop in the Brazilian real this […]
