Itaú BBA turns bullish on Brazil, sees Ibovespa at 246k, flags laggards

Itaú BBA issued a buy recommendation for Brazil, setting a 246,000 target for the Ibovespa, citing market pricing now compatible with gradual fiscal adjustment. The bank highlights four lagging stocks as potential outperformers. This signals a shift in sentiment toward Brazilian equities, though the fiscal adjustment assumption remains a key uncertainty.