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BTG raises target price for Minerva shares to R$ 13.40

BTG Pactual has raised the target price for shares in Minerva from R$ 11.20 to R$ 13.40, reflecting the company's safe level of leveraging, and it has continued its recommendation to buy stocks, with the company being the best bet in the sector in its opinion.

The bank has increased its estimates for Minerva's earnings before interest, taxes, depreciation and amortization (EBITDA) by 22% for 2013, following the incorporation of a slaughterhouse in Paraguay. BTG has also increased its medium-term expectations about the company's ability to navigate the favorable meat cycle to increase its margins, with the help of even more profitable export markets and a high standard of operation.

Information provided by Valor Econômico



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