Agora lifts share price target on Brazil Cosan

(SeeNews) – Jan 31, 2013 - Agora Corretora has lifted its share price target on Brazilian sugar, ethanol and fuel sector player Cosan (SAO:CSAN3) to BRL 52.30 from the previous BRL 47.80.
The brokerage also opted to maintain its "buy" recommendation on the stock.
The upgrade of the price target mirrors the company's latest earnings results coupled with Agora's updated macroeconomic projections, the brokerage's analyst, Luiz Otavio Broad, outlined in the report.
According to Broad, with the recent acquisitions of biofuels unit Raizen Combustiveis, logistics firm Rumo and fuel distributor Comgas (SAO:CGAS5), Cosan has managed to solidify its portfolio.
The expansion and productivity boost planned by the company for its sugar cane plantations is expected to start generating value for Cosan's sugar and ethanol business, the analyst also noted.
By 1051 local time today, Cosan's shares had added 1.51% to BRL 47.60 on the Sao Paulo stock exchange. In the last 365, the stock has soared as much as 63.5%.
(BRL 1.0 = USD 0.503/EUR 0.371)

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