Zacks Reiterates “Neutral” Rating for Cosan Limited (CZZ)
Cosan Limited (NYSE:CZZ)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Friday. They currently have a $15.00 price target on the stock. Zacks‘s price target points to a potential upside of 7.53% from the stock’s previous close.
Zacks’ analyst wrote, “Cosan reported net income of R$256 million in first-quarter 2014, up from R$27 million in the year-ago quarter. Earnings came in at US$0.62 per ADR. Revenues grew 8.4% due to higher fuel, ethanol and sugar sales. Energy cogeneration revenues soared 108% while Transportation revenues increased 21%. For 2014, management guided EBITDA in the R$4.15-R$4.65 billion range and capital expenditure to be within R$2.5 R$2.8 billion. In addition to results, long-term growth prospects are bright on the back of Cosan’s strategic acquisitions and growing sugar and ethanol demand. However, rising costs and expenses, adverse impacts of unfavorable weather conditions and higher debt levels might prove to be impediments to growth. Considering these, we maintain a Neutral recommendation on the stock.”
Cosan Limited (NYSE:CZZ) traded up 0.22% on Friday, hitting $13.98. 263,462 shares of the company’s stock traded hands. Cosan Limited has a one year low of $10.33 and a one year high of $16.89. The stock has a 50-day moving average of $12.75 and a 200-day moving average of $12.49. The company has a market cap of $3.700 billion and a P/E ratio of 49.29.
Cosan Limited (NYSE:CZZ) is a holding company.
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