Sabesp (SBSP3), Copasa (CSMG3) or Sanepar (SAPR11): One is the favorite of the crop

The sector of sanitation has shown signs of stability and growth opportunities, according to analysis released by the Bank Safra.

Continues after advertising

Continues after advertising

Even after a significant increase of more than 40% in one year, the Sabesp (SBSP3) remains the bank’s main bet in the sector. The recommendation remains positive, with a new estimated price of R $ 144.10 per share, which represents an expectation of appreciation of about 24.5% over the next 12 months.

According to the Harvesta Sabesp It has been able to reduce costs faster than expected since it has become a private company. This has improved the company’s results and increased the confidence of analysts.

Another important point is that the regulatory agency adjusted the rules that determine how much the company can charge in tariffs, taking into account investments made in works and improvements. In addition, new contracts that should be disputed in São Paulo can make room for the company’s growth.

In the case of Copasa (CSMG3), the recommendation is “neutral”, ie the bank advises those invested to keep their positions without buying or selling. The estimated price for the papers was updated to $ 31.10, which indicates a more limited return of 9.4%.

Continues after advertising

Continues after advertising

For the bank, the costs of Copasa They have risen more than expected, and there are doubts about the future decisions of the regulatory agency, especially about investment rules and financial return. In the view of Harvestthese risks weigh more than possible gains.

Already for Sanepar (SAPR11), the crop maintained the neutral recommendation. The estimated price for shares rose to R $ 42.80, with return potential of 15.1%. According to the bank, the company’s recent good performance has been recognized by the market, and the increase in costs in recent months may end up limiting profits in the next quarters.

Macroeconomic projections drive the sector

THE Harvest also updated its projections taking into account an economic scenario with inflation around 5.1% and GDP 2.1% in 2025. With this, it increased profit estimates and operating results for companies in the sector.

Between 2025 and 2027, the expectation is that they distribute, on average, 3.9% per year in dividends. THE Sanepar It can stand out at this point, as the federal government’s entry of funds can reinforce profits next year.

Continues after advertising

Continues after advertising

Despite the good prospects, the bank draws attention to some risks that still surround the sector. Among them are possible changes in regulation, difficulties in meeting service expansion goals, operational problems, political decisions (such as a possible Copasa federation) and even climate issues such as the lack of rainfall that can affect supplies.