Despite Brazilian stocks’ world leading gains of 63% over the past year, Credit Suisse has decided it’s time for investors to sell. As Bloomberg reports Wednesday, analysts said in a note to investors that the company has “run out of motivation to own the market at an above-benchmark weighting.” The note went on to say that current valuations “appear rich,” while other investors such as Fidelity and BlackRock continue to see value in Brazil.
Brazil’s President Michel Temer. Photo: Reuters / Ueslei Marcelino
Credit Suisse: take profits on Brazil
Brazilian stocks have lost their luster as rally fades