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Tuesday, November 29, 2022

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Itaú exchanges Banco do Brasil (BBAS3) for a cheaper and more profitable state-owned company; see wallet

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(Image: YouTube/Sabesp)

O Itaú BBA exchanged the shares of Bank of Brazil (BAAS3) for the know (SBSP3), a sanitation company from São Paulo, shows a report sent to customers this week.

Although analysts Victor Nadal and Paulo Folha still like BBwhich remains the favorite bank of the BBA“we prefer not to have exposure to the thesis due to the volatile market moment”.

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O Bank of Brazilwhich shot up in the trading session last Monday, fell sharply in this Tuesday’s session (-5.38%).

already the knowaccording to the duo, seems to be an interesting thesis in terms of valuation, both from the point of view of multiples and appreciation potential.

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O BBA sees the share trading at 4.6x the EV/Ebitda (company value over operating income) for the end of 2023, compared to an average of the last three years at 6.0x – which represents a potential appreciation of more than 30% .

THE know is considered one of the largest sanitation companies in the world in terms of population served. There are 28.4 million people supplied with water and 25.2 million people with sewage collection.

It is responsible for about 30% of the investment in basic sanitation made in Brazil. For the period from 2022 to 2026, the company plans to invest approximately R$ 23.8 billion.

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Source: Moneytimes

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