In a Wednesday research report, the firm wrote that the company's outlook on foreign exchange and loan demand is currently being weighed down by political uncertainty in the country.
Credit Suisse also lowered its net income estimates for the company for 2022 and 2023, noting that 24% of the group's revenue in 2020 came from Brazil.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 3.11, Change: -0.08, Percent Change: -2.36
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