The shares of the retail chain Pão de Açúcar were up 5.26%, at R$21.40, around 12:10 pm on Monday (2), after information circulated in the press that businessman Abilio Diniz, the third largest Carrefour’s global shareholder, would be eyeing the competitor, Pão de Açúcar (PCAR3).
wanted by UOL, GPA and Península, Diniz’s investment company, declined to comment. See below what experts say and what the stock recommendation is.
“These speculations are very common”, says analyst Guilherme Rebouças, a partner at OBB Capital.
“Stocks rise and fall exaggeratedly every day, irrationally, on top of rumours. But in the long run, they rise and fall rationally, on top of fundamentals,” he adds.
Is it worth buying company shares?
Just because of the rumor, no. The purchase is recommended only on the basis of the fundamentals, the performance of the company. The company’s results for the first quarter will be released on the 4th.
For the bank BTG Pactual, it is worth buying, since, in the bank’s projections, the share can reach R$ 47.
“We see a more optimistic outlook for the sector, with the gradual improvement in the first quarter being an encouraging sign, while the deceleration of inflation in the second half of 2022 should help in the next results”, published BTG, in a report.
Mirae Asset also recommends purchase, with a target price of BRL 33.02.