Gol August traffic data, new step for Localiza-Unidas merger, recommendations and more highlights

SAO PAULO – In addition to the adjustment to the ADRs (in practice, shares of non-US companies traded in New York), which rose on the day before, a public holiday in Brazil, investors are following the corporate news this Wednesday (8) .

Among the highlights, there was the disclosure of traffic data from Gol and Cade’s General Superintendence, the Administrative Council for Economic Defense, issued an opinion on Monday night recommending the approval of the merger between Localiza and Unidas through “remedies”. In addition, the recommendations are highlighted, with WEG being raised by Credit Suisse. Check out the highlights:

Gol disclosed on Monday that demand for flights grew 84.7% in August 2021 compared to the same month last year, while supply increased 83%.

The occupancy rate was 80.2%, an increase of 0.8 point compared to August 2020. Last month, Gol transported 1.5 million passengers, an increase of 87% on the same basis of comparison . From January to August, demand increased by 4.6% and supply increased by 1.5%, compared to the period from January to August 2020, with an occupancy rate of 82%, up 2.5 percentage points . The data refer only to Gol’s domestic operation, as the company did not carry out international flights in the period.

Locates (RENT3) and United (LCAM3)

Cade’s General Superintendence, the Administrative Council for Economic Defense, issued an opinion on Monday night recommending the approval of the merger between Localiza and Unidas through “remedies”. The deal is now being evaluated by the Cade’s Court, with a deadline until January 2022.

In a document with more than 200 pages, Cade stated that the concentration of operations “generates relevant risks for the competitive environment in the vehicle leasing market (RAC)”. The size of the concentration in the RAC, according to the autarchy, would be 70% after the merger of the two companies.

Hypera will raise R$ 1 billion with 5-year debentures to reinforce cash.

Invepar ([ativo=IVPR3]) and CCR (CCRO3)

According to information from the newspaper Valor Econômico, Invepar has resumed its search for an investor at Guarulhos Airport, whose concession it controls, with 51% of the shares. With the mandate of the business, the bank Goldman Sachs prospects potential interested in making an investment in excess of R$ 1 billion. In addition, sources told the newspaper that CCR and manager Farallon are evaluating the asset.

Featured recommendations

Analysts Daniel Gasparete and Pedro Hajnal, from Credit Suisse, assumed coverage for WEG’s shares with an outperform recommendation (performance above the market average) – ante underperform (performance below the market average), with a target price going from R $9.25 to $46, or a potential upside of about 30% compared to Monday’s close.

“Our thesis is based on the quality of execution and WEG’s culture of innovation, which, together with its various expansion verticals and a high ROIC [Retorno sobre o Capital Investido], make WEG one of the most solid and efficient growth stories”, they point out.

Itaú BBA started to cover the shares of Armac (ARML3), a rental of equipment for agribusiness, mining and infrastructure, with an outperform recommendation and a target price of R$28 for 2022. “Even after the expressive performance of the shares since the debut of the actions [em 28 de julho], our target price implies an upside potential of 34%”, analysts point out.

The bank also started coverage for ClearSale shares (CLSA3) with an outperform recommendation and a target price of R$39.10 per share, which corresponds to a potential increase of 41% compared to Monday’s closing.

BBA also reiterated the outperform recommendation for Track&Field (TFCO4), updating the target price from R$14 for 2021 to R$18 in 2022.

Ambipar informed the acquisition of 100% of the company Emerge Hydrovac through its indirect wholly-owned subsidiary Ambipar Holding Canada.

Emerge Hydrovac operates in environmental emergencies and industrial services, focusing on road and industrial modalities. It has 3 operational bases in the states of British Columbia and Alberta, in Canada, and earned 6.5 million Canadian dollars in the last 12 months.

“In line with the expansion plan, this is the company’s ninth acquisition in North America, which now has 23 bases strategically located in the region and with presence in 12 states”, pointed out the company.

Ambipar states that this acquisition: (i) geographically expands the Company’s presence in North America; (ii) expands service capillarity, reducing response time; (iii) generates operational and administrative synergies and cross selling opportunities; in line with its strategic growth plan, capturing synergies and potentially maximizing margins and returns.

Petrobras reported having started the stage of publicizing the opportunity (teaser), referring to the sale of its entire stake in the Uruguá and Tambaú fields, belonging to the BS-500 concession, located in the Santos Basin, in the state of Rio de Janeiro.

homeland

Pátria Investments announced that it will merge with Chilean manager Moneda Asset Management. Thus, it creates a company with $25.9 billion in assets under management. The transaction is expected to be completed this year.

(with Reuters and Estadão Content)

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