BB Investimento revises Via’s target price to R$20 By

© Reuters.

By Ana Beatriz Bartolo – The recommendation to buy Via (SA:) shares was maintained by BB Investimentos, which updated the target price for the end of 2022 to R$ 20. The value is equivalent to an EV/GMV 22e ratio of 0 .69x, compared to 0.37x considering the current price.

At 11:31 am, assets retreated 3.55%, at R$ 8.16.

BB Investimentos revised its valuation on the company to incorporate the results for the first half of 2021 and aggregate the assumptions of growth and profitability for the short and medium term.

The expectation, according to the report, is that the reopening of the economy and the advance of vaccination make household consumption shift from furniture and appliances to services not consumed in recent semesters due to the pandemic. Even so, BB Investimentos hopes that Via will be able to diversify its revenue sources, expanding the category of products sold and increasing the services available to marketplace sellers offered at BanQi.

Still, the 47.6% drop in Via’s shares this year reflects the concern that the company is able to gain market share in a very fierce segment and whose sales in 2020 driven by the pandemic are unlikely to be repeated this year.

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