The construction of an underwater tunnel of 800 meters, in addition to a second extension of 700 meters between the cities of Santos and Guarujá, is negative news for the Santos Brazil (STBP3) e Highways (ECOR3), said the analysts of Now Investments in a report sent to customers on Friday (17).
The federal government’s announcement of the tunnel reduces the attractiveness for the state government to build a
bridge to connect the two cities on the São Paulo coast, which is bad for Ecorodovias, says the broker.
“Another point is that this new project could allow Brasil Terminal Portuário to expand its container terminal, which could have a negative impact on Santos Brasil”, explain Victor Mizusaki and Ricardo França, who signed the report.
Even with this perspective, analysts maintain the purchase recommendation for Santos Brasil and Ecorodovias with target prices, respectively, of R$ 13 and R$ 15, up 88% and 92% compared to the closing on Friday.
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Source From: Moneytimes
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