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🇧🇷
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.
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.
Follow Money Times on Linkedin!
Stay informed, post and interact with Money Times on Linkedin. In addition to staying on top of the main news, you have exclusive content about careers, participate in polls, understand the market and how to be at the forefront of your work. But that’s not all: you open new connections and find people who are a good addition to your network. No matter your profession, follow Money Times on Linkedin🇧🇷
Know more! THE 5 MOST VALUABLE TEAMS IN BRAZILIAN FOOTBALL! CLUBS COMPANIES ON THE LIST?
Disclaimer
O Money Times publishes informative articles of a journalistic nature. This publication does not constitute an investment recommendation.
Source: Moneytimes
I am an author and journalist with a focus on market news. I have worked for a global news website for the past two years, writing articles on a range of topics relating to the stock market. My work has been published in international publications and I have delivered talks at both academic institutions and business conferences around the world.
