Cosan Limited Given Neutral Rating at Zacks (CZZ)
Cosan Limited (NYSE:CZZ)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Wednesday. They currently have a $13.00 price objective on the stock. Zacks‘s target price would indicate a potential upside of 1.25% from the company’s current price.
Zacks’ analyst wrote, “Cosan’s second-quarter 2014 net income was R$104 million versus a loss of R$202 million in the year-ago quarter. Revenues inched up 0.9% as higher fuel sales were partially offset by a decline in sugar sales. Sugarcane crushing increased 13% while sugar production rose 13.7%. Energy cogeneration revenues soared 108% while Transportation revenues were down 20%. For 2014, management maintained EBITDA guidance in the R$4.15-R$4.65 billion range. Also, the proposed Rumo-ALL merger will enable Cosan to gain an easy access to ALL’s transportation services. However, rising costs and expenses, adverse impacts of unfavorable weather conditions and higher debt levels might impede the company’s growth. Considering these, we maintain a Neutral recommendation on Cosan.”
Shares of Cosan Limited (NYSE:CZZ) traded up 4.21% during mid-day trading on Wednesday, hitting $13.38. 1,371,192 shares of the company’s stock traded hands. Cosan Limited has a 52 week low of $10.33 and a 52 week high of $16.29. The stock’s 50-day moving average is $12.37 and its 200-day moving average is $12.33. The company has a market cap of $3.542 billion and a P/E ratio of 26.53.
Cosan Limited (NYSE:CZZ) is a holding company.
To view Zacks’ full report, visit Zacks’ official website.
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