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Companhia Energetica Minas Gerais (NYSE:CIG) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports.

Separately, analysts at Zacks reiterated a “neutral” rating on shares of Companhia Energetica Minas Gerais in a research note on Monday. They now have a $9.00 price target on the stock.

Companhia Energetica Minas Gerais (NYSE:CIG) opened at 8.73 on Tuesday. Companhia Energetica Minas Gerais has a 52-week low of $5.23 and a 52-week high of $9.02. The stock has a 50-day moving average of $8.49 and a 200-day moving average of $7.30. The company has a market cap of $10.985 billion and a price-to-earnings ratio of 6.84.

Companhia Energetica de Minas Gerais Cemig is a Brazil-based holding company primarily engaged in the electricity sector.

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