On November 2010, Itau gave a strong buy recommendation for Hypermarcas. They say (Google translated):
Hypermarcas shares is a good way to increase exposure to consumer goods sector, which has recorded strong growth in Brazil. The company gained market share recently, which helps to keep revenues growing.In addition, Hypermarcas has a history of acquisitions "impeccable." With 2.4 billion dollars in cash, the expectations of analysts is that the company continues to make purchases that generate business value.
On December 2010 they set the target price for Hypermarcas at BRL 32.30 (very precisely as usually).
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Today Itau changed abruptly his mind. Now they say that Hypermarcas would worth just BRL 13.30 (very precisely again), a nearly 60% cut in about an year!
Broker evaluates 2011 as 'lost' to Hypermarcas projections and cuts projection
Again, who on the earth still gives a shit to what these "experts" say?
2 comments:
BTG Pactual negocia entrada no controle da Hypermarcas, diz jornal
Há quatro meses, banco de André Esteves derrubou papéis da empresa ao rebaixar sua nota
Who can'n understand that yet should be prepared to give money to others...
It's really amazing!
Hypermarcas proudly publicized that it had generated in 2011 580 mi in cash. However, almost 2/3 of it (370 mi) is interest, that has to be paid!
Also, had not adjusted net income as it always does, because in the 4Q11 they sold assets, so total net income was 49 mi. Otherwise, if they had adjusted, it will turn in a loss of 63 mi. So, why adjust this quarter?
And, most amazing of all: Valor Economico publicize this same shit!
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