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Wednesday, February 8, 2023

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CSN (CSNA3) has solid fundamentals to grow in 2023, but is it worth buying shares now?

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The bank’s recommendation for CSN remains a buy, with an adjustment of the target price to BRL 20 (Image: CSN/ Reproduction YouTube)

O Santander adjusted its estimates for the CSN 🇧🇷CSNA3🇧🇷 In 2023, the bank expects the company to benefit from strong results in its cement division and mentions solid iron ore fundamentals.

According to a report published on Friday (25), the recommendation continues as a buy. The bank adjusted the target price to R$ 20. The new value indicates a potential increase of approximately 45% compared to the current trading price of the actions🇧🇷

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Rafael Barcellos and Arthur Biscuola, analysts at the bank, calculate an Ebitda (earnings before interest, taxes, depreciation and amortization) of approximately R$ 9.9 billion in 2023, a drop of 22% compared to the previous year.

“Solid results in its mining division and strong results in its cement division should partially offset weaker results in its cement division. steel“, say the experts.

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The bank expects CSN’s mining division to record production of iron ore of approximately 38 million tons in 2023, an increase of 9% compared to 2022.

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O Money Times publishes informative articles of a journalistic nature. This publication does not constitute an investment recommendation.

Source: Moneytimes

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