| VALE DO RIO DOCE (RIO) – SOLID LONG TERM FUNDAMENTALS AND STRONG BALANCE SHEET GENERATE RESOURCES FO |
12/31/2009 |
Companhia Vale Do Rio Doce SA (RIO) is a major mining company and the world’s largest producer of iron ore, iron ore pellets and second largest producer of nickel.
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| BANCO ITAÚ HOLDING (ITU) – GREAT LONG TERM INVESTMENT PLAY BUT SKEPTICAL ABOUT MERGER VALUE – BUY |
11/20/2008 |
Banco Itaú Holding is a financial holding that provides a wide variety of banking and financial services in Brazil.
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| VALE – PROSPECTS REMAIN SOLID DESPITE REVISION ON COMMODITIES’ OUTLOOK, STRONG CASH GENERATION – BUY |
10/22/2008 |
Brazilian company Companhia Vale Do Rio Doce [NYSE: RIO, RIO/P; IBOV: VALE3, VALE5] (VALE) is the second largest mining company in the world and one of the largest private sector companies in Latin America by market capitalization.
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| USIMINAS (USIM5) – SOLID FUNDAMENTALS AND EXCELLENT PRICE CONDITIONS PRESENT OUTSTANDING OPPORTUNITY |
9/19/2008 |
| Being vertically integrated, the Company is the third lowest cost producer in the world, being also able to determine price increases to sustain margins (three price adjustments in 1H08). |
| SADIA (SDA) – GRAINS, ONCE AGAIN THE MAIN CONCERN FOR AN APPEALING TOP LINE GROWTH STORY – BUY |
9/12/2008 |
Sadia [NYSE: SDA; BOVESPA: SDIA3, SDIA4] is a one of the largest Brazilian food companies (2nd after Perdigao in terms of revenues), focused on processed products (frozen and refrigerated products and margarines), poultry, pork and beef with presence both in the domestic and export markets
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| COMPANHIA SIDERURGICA NACIONAL SA (SID) – 2Q08 RESULTS: STEEL PRICES ON THE RISE; COST PRESSURES UND |
8/26/2008 |
Updating 2Q08 results for Companhia Siderurgica Nacional (NYSE: SID and IBOV: CSNA3), the second lowest cost steel producer in the world.
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| USIMINAS (USIM5) – STRATEGICALLY EXPOSED TO THE BRAZILIAN STEEL DEMAND – BUY |
7/16/2008 |
| USIMINAS (USIM5) – STRATEGICALLY EXPOSED TO THE BRAZILIAN STEEL DEMAND – BUY |
| USINAS SIDERURGICAS DE MINAS GERAIS S.A. (USIM5) – BENEFIT FOR BRAZILIAN STEEL SECTOR: STRONG... |
7/1/2008 |
| USINAS SIDERURGICAS DE MINAS GERAIS S.A. (USIM5) – BENEFIT FOR BRAZILIAN STEEL SECTOR: STRONG RESULTS EXPECTED – BUY |
| COMPANHIA SIDERURGICA NACIONAL (SID) – GOOD PROSPECTS FOR STEEL SECTOR, WILL LEAD TO GOOD... |
6/30/2008 |
| COMPANHIA SIDERURGICA NACIONAL (SID) – GOOD PROSPECTS FOR STEEL SECTOR, WILL LEAD TO GOOD PERFORMANCE – BUY |
| AMBEV – GOOD GROWTH PROSPECTS IN LATIN AMERICAN BEVERAGE MARKET – BUY |
5/23/2008 |
| AMBEV – GOOD GROWTH PROSPECTS IN LATIN AMERICAN BEVERAGE MARKET – BUY |
| AMERICA LATINA LOGISTICA (ALLL11) – STRONG RESULTS IN 1Q08 WITH SUSTAINABLE VOLUME GROWTH –... |
5/20/2008 |
| AMERICA LATINA LOGISTICA (ALLL11) – STRONG RESULTS IN 1Q08 WITH SUSTAINABLE VOLUME GROWTH – REITERATE BUY |
| TAM S.A. (TAM) – MAINTAINING LEADERSHIP IN CHALLENGING ENVIRONMENT– REITERATE HOLD |
5/1/2008 |
| TAM S.A. (TAM) – MAINTAINING LEADERSHIP IN CHALLENGING ENVIRONMENT– REITERATE HOLD |
| GOL LINHAS AÉREAS INTELIGENTES (GOL) – POOR PROSPECTS FOR 2008 AS MEDIUM TERM APPEARS CHALLENGING;.. |
4/28/2008 |
| GOL LINHAS AÉREAS INTELIGENTES (GOL) – POOR PROSPECTS FOR 2008 AS MEDIUM TERM APPEARS CHALLENGING; DOWNGRADE FROM HOLD – SELL |
| BRASILAGRO SA (AGRO) – EXPANSION PLAN CONTINUES AND FIRST HARVESTS BEGIN; BENEFITING FROM FAVORABLE. |
4/25/2008 |
| BRASILAGRO SA (AGRO) – EXPANSION PLAN CONTINUES AND FIRST HARVESTS BEGIN; BENEFITING FROM FAVORABLE WORLDWIDE COMMODITIES’ SCENARIO – AFFIRMED BUY |
| BOVESPA HOLDING (BOVH3.SA) – LARGEST AND FASTEST GROWING EXCHANGE IN LATIN AMERICA – BUY |
4/21/2008 |
| BOVESPA HOLDING (BOVH3.SA) – LARGEST AND FASTEST GROWING EXCHANGE IN LATIN AMERICA – BUY |
| SLC AGRICOLA SA (SLCE3.SA) – STRONG COMMODITY MOMENTUM SUPPORTS SOLID FINANCIALS; BUT RECENT RALLY.. |
4/18/2008 |
| SLC AGRICOLA SA (SLCE3.SA) – STRONG COMMODITY MOMENTUM SUPPORTS SOLID FINANCIALS; BUT RECENT RALLY ALMOST FULLY VALUES THE COMPANY – DOWNGRADE TO HOLD |
| SABESP (SBS) – BENEFITS FROM BRAZIL’S GROWTH ON THE BACK OF A NEW REGULATORY FRAMEWORK THAT STILL... |
4/15/2008 |
| SABESP (SBS) – BENEFITS FROM BRAZIL’S GROWTH ON THE BACK OF A NEW REGULATORY FRAMEWORK THAT STILL NEEDS TO BE PROVED – BUY |
| COMPANHIA VALE DO RIO DOCE (RIO) – AFTER LEAVING BEHIND XSTRATA DEAL, NEW FOCUS ON ORGANIC GROWTH –. |
4/14/2008 |
| COMPANHIA VALE DO RIO DOCE (RIO) – AFTER LEAVING BEHIND XSTRATA DEAL, NEW FOCUS ON ORGANIC GROWTH – BUY |
| PETROBRAS (PBR) – WEAK QUARTER RESULTS BUT POSITIVE GROWTH EXPECTED FOR THIS YEAR – BUY |
4/14/2008 |
| PETROBRAS (PBR) – WEAK QUARTER RESULTS BUT POSITIVE GROWTH EXPECTED FOR THIS YEAR – BUY |
| BRASILAGRO SA (AGRO) – EXPANSION PLAN CONTINUES AND FIRST HARVESTS BEGIN; BENEFITING FROM FAVORABLE. |
4/3/2008 |
| BRASILAGRO SA (AGRO) – EXPANSION PLAN CONTINUES AND FIRST HARVESTS BEGIN; BENEFITING FROM FAVORABLE WORLDWIDE COMMODITIES’ SCENARIO – AFFIRMED BUY |
| SADIA (SDA) – SOFT COMMODITIES PRICE INCREASES ALREADY SET MARGIN PRESSURES; AGGRESSIVE CAPEX PLAN.. |
4/2/2008 |
| SADIA (SDA) – SOFT COMMODITIES PRICE INCREASES ALREADY SET MARGIN PRESSURES; AGGRESSIVE CAPEX PLAN SETS SOME DOUBTS REGARDING SHAREHOLDERS VALUE – DOWNGRADE FROM BUY TO HOLD |
| REDECARD – SOLID GROWTH BACKED BY IMPROVING MACRO FUNDAMENTALS; BEWARE EFFECTS OF CURRENT SECONDARY. |
3/26/2008 |
| REDECARD – SOLID GROWTH BACKED BY IMPROVING MACRO FUNDAMENTALS; BEWARE EFFECTS OF CURRENT SECONDARY OFFERING ON STOCK PRICE – BUY |
| PERDIGAO (PDA) – #1 FOOD COMPANY IN BRAZIL IN TERMS OF REVENUES; COMPELLING STRATEGY OF PRODUCT... |
3/24/2008 |
| PERDIGAO (PDA) – #1 FOOD COMPANY IN BRAZIL IN TERMS OF REVENUES; COMPELLING STRATEGY OF PRODUCT PORTFOLIO DIVERSIFICATION – BUY |
| GERDAU S.A. (GGB) – UNCERTAINTY ABOUT EQUITY OFFERING – BUY |
3/10/2008 |
| GERDAU S.A. (GGB) – UNCERTAINTY ABOUT EQUITY OFFERING – BUY |
| UNIBANCO – HIGH-PACED EARNINGS GROWTH, STRATEGIC PARTNERSHIPS AND GOOD DOMESTIC MACRO PROSPECTS –... |
3/5/2008 |
| UNIBANCO – HIGH-PACED EARNINGS GROWTH, STRATEGIC PARTNERSHIPS AND GOOD DOMESTIC MACRO PROSPECTS – BUY |
| TAM S.A. (TAM) – MAINTAINING LEADERSHIP IN CHALLENGING ENVIRONMENT– HOLD |
3/4/2008 |
| TAM S.A. (TAM) – MAINTAINING LEADERSHIP IN CHALLENGING ENVIRONMENT– HOLD |
| GERDAU S.A. (GGB) – EXPANSION THROUGH ACQUISITIONS COMBINED WITH POSITIVE RESULTS – BUY |
3/4/2008 |
| GERDAU S.A. (GGB) – EXPANSION THROUGH ACQUISITIONS COMBINED WITH POSITIVE RESULTS – BUY |
| BANCO ITAU HOLDING – EXPANSION IN BRAZIL AND ABROAD WITH AUSPICIOUS PROSPECTS – BUY |
3/4/2008 |
| BANCO ITAU HOLDING – EXPANSION IN BRAZIL AND ABROAD WITH AUSPICIOUS PROSPECTS – BUY |
| VALE (RIO) - XSTRATA DEAL IS A POSITIVE MOVE TOWARDS DIVERSIFICATION- BUY |
2/28/2008 |
| VALE (RIO) - XSTRATA DEAL IS A POSITIVE MOVE TOWARDS DIVERSIFICATION- BUY |
| BANCO BRADESCO – CONTINUOUS EXPANSION OF EARNINGS AND LEVEL OF ACTIVITY – BUY |
2/14/2008 |
| BANCO BRADESCO – CONTINUOUS EXPANSION OF EARNINGS AND LEVEL OF ACTIVITY – BUY |
| GLOBEX UTILIDADES – GOOD MACROECONOMIC FUNDAMENTALS AND EXPERIENCED MANAGEMENT, BUT UNCERTAINTY ON.. |
2/12/2008 |
| GLOBEX UTILIDADES – GOOD MACROECONOMIC FUNDAMENTALS AND EXPERIENCED MANAGEMENT, BUT UNCERTAINTY ON FINAL RESULTS OF RECENT MOVES – HOLD |
| ARA – $6.4 BN MARKET CAP BRAZILIAN PULP PRODUCER SURFING CURRENCY RISKS WITH STRONG LONG-TERM... |
1/31/2008 |
| ARA – $6.4 BN MARKET CAP BRAZILIAN PULP PRODUCER SURFING CURRENCY RISKS WITH STRONG LONG-TERM POTENTIAL – HOLD |
| PETROBRAS (PBR) – NEW DISCOVERIES IN PRE SALT LAYER GENERATE POSITIVE EXPECTATIONS TO GROWTH THIS... |
1/25/2008 |
| PETROBRAS (PBR) – NEW DISCOVERIES IN PRE SALT LAYER GENERATE POSITIVE EXPECTATIONS TO GROWTH THIS YEAR – BUY |
| GERDAU S.A. (GGB) – STRONG GROWTH IN THE SHORT TERM – BUY |
1/23/2008 |
| GERDAU S.A. (GGB) – STRONG GROWTH IN THE SHORT TERM – BUY |
| GOL LINHAS AEREAS INTELIGENTES S.A. (GOL) – MANAGEMENT NO LONGER CONSIDERING DELISTING, BRAZILIAN... |
1/22/2008 |
| GOL LINHAS AEREAS INTELIGENTES S.A. (GOL) – MANAGEMENT NO LONGER CONSIDERING DELISTING, BRAZILIAN AIRLINE INDUSTRY MEDIUM-TERM PROSPECTS UNCERTAIN – HOLD |
| BOVESPA HOLDING (BOVH3) – THE LARGEST AND FASTEST GROWING EXCHANGE IN LATIN AMERICA – BUY |
1/11/2008 |
| BOVESPA HOLDING (BOVH3) – THE LARGEST AND FASTEST GROWING EXCHANGE IN LATIN AMERICA – BUY |
| VPC – $5.9 BN MARKET CAP BRAZILIAN PULP AND PAPER PRODUCER PURSUING ATTRACTIVE LONG-TERM STRATEGY –. |
1/9/2008 |
| VPC – $5.9 BN MARKET CAP BRAZILIAN PULP AND PAPER PRODUCER PURSUING ATTRACTIVE LONG-TERM STRATEGY – BUY REITERATED |
| BRASILAGRO SA (AGRO3) – INTERESTING WAY TO PLAY ON WORLD COMMODITITES TREND AND LAND APPRECIATION... |
1/7/2008 |
| BRASILAGRO SA (AGRO3) – INTERESTING WAY TO PLAY ON WORLD COMMODITITES TREND AND LAND APPRECIATION IN BRAZIL – INITIATING COVERAGE WITH BUY |
| BRADESCO (BBD) – CONTINUOUS GROWTH IN A STIMULATING ENVIRONMENT – BUY |
1/7/2008 |
| BRADESCO (BBD) – CONTINUOUS GROWTH IN A STIMULATING ENVIRONMENT – BUY |
| UNIBANCO (UBB) – TREND OF IMPROVEMENT AND DOMESTIC
GOOD PROSPECTS – BUY - Archived |
12/20/2007 |
| UNIBANCO (UBB) – TREND OF IMPROVEMENT AND DOMESTIC
GOOD PROSPECTS – BUY |
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