Time to Bet on This Brazilian Bank?
Santander Brasil is primed to benefit from opportunities in Brazil's lucrative banking market.
As we mentioned last week, Banco Santander Brasil will put together one of the largest IPOs of the year, attempting to raise almost $7 billion. We think the offering itself is fairly valued, and worth $13 per ADR, roughly in the middle of its offer range.
At the same time, we think Santander Brasil is primed to benefit from opportunities in Brazil's lucrative banking market. With the shares set to begin trading this week, Morningstar equity analyst Maclovio Pina presents his investment thesis on the bank below:
Bill Buhr does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.