Pão de Açúcar shoots up 6.8%; Genial sees the supermarket sector as an attractive option

Sugar Loaf
The high came after analysts at Genial Investimentos saw the value of the sector as very attractive (Image: REUTERS/Nacho Doce)

The actions of the Sugar Loaf (PCAR3) rose 6.80% and the rival Carrefour Brazil (CRFB3) advanced 2.50% this Tuesday (5th).

The high came on the same day as analysts at Great Investments saw the value of the sector as very attractive, trading at multiples below their historical levels and that do not reflect all of their future prospects, “where players will be structurally better at pre-pandemic levels”.

Therefore, the broker recommended buying for the assai (ASSAI3) and Carrefour, with target prices of R$ 19.32 and R$ 17.62, respectively. For Pão de Açúcar, analysts calculated the target price of R$30, with the indication of just holding the share.

O Ibovespa closed marginally in the blue on Tuesday, with banks and Petrobras among the main supports, in addition to the recovery on Wall St, while concerns about the country’s fiscal scenario still undermine the appetite of financial agents.

Reference index of the Brazilian stock market, the Ibovespa (IBOV) ended with a positive variation of 0.06%, at 110,457.64 points, after, at the best time of the day, surpassing 111,000 points. The financial volume totaled 29.4 billion reais. The day before, the Ibovespa closed down more than 2%.

(With Reuters)