Cosan Limited (CZZ) Upgraded to “Strong-Buy” by Zacks Investment Research
Cosan Limited (NYSE:CZZ) was upgraded by Zacks Investment Research from a “sell” rating to a “strong-buy” rating in a report issued on Friday. The brokerage currently has a $10.00 price objective on the basic materials company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.53% from the company’s previous close.
According to Zacks, “In the last three months, Cosan's American Depository Receipts (ADR) have outperformed the industry. We believe that Cosan constantly strives to improve its production capabilities and services to capitalize on the growing sugar and ethanol demand. Also, its strategy of expanding its network of service stations aided growth over time. Exiting second-quarter 2017, the company had 6,068 Shell branded service stations. Also, its organic and inorganic growth initiatives bode well. For 2017, the company anticipates revenues in the range of R$45-R$48 billion for Cosan S.A. and earnings before interest, tax, depreciation and amortization (EBITDA) within R$4.8-R$5.3 billion.”
Several other brokerages have also weighed in on CZZ. Morgan Stanley lowered shares of Cosan Limited from an “overweight” rating to an “equal weight” rating in a report on Friday, October 6th. ValuEngine lowered shares of Cosan Limited from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Credit Suisse Group upgraded shares of Cosan Limited from a “neutral” rating to an “outperform” rating in a report on Monday, October 9th. Finally, BidaskClub upgraded shares of Cosan Limited from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $10.00.
Cosan Limited (NYSE CZZ) traded up 0.712% during trading on Friday, reaching $9.195. The company’s stock had a trading volume of 521,865 shares. The company has a market cap of $2.43 billion, a P/E ratio of 84.358 and a beta of 2.27. The stock’s 50-day moving average is $8.46 and its 200 day moving average is $7.58. Cosan Limited has a 12 month low of $5.63 and a 12 month high of $9.50.
Large investors have recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC bought a new stake in shares of Cosan Limited during the second quarter worth about $108,000. Capital Fund Management S.A. bought a new stake in shares of Cosan Limited during the second quarter worth about $133,000. FNY Partners Fund LP bought a new stake in shares of Cosan Limited during the first quarter worth about $141,000. Fox Run Management L.L.C. increased its position in shares of Cosan Limited by 40.1% during the second quarter. Fox Run Management L.L.C. now owns 22,000 shares of the basic materials company’s stock worth $141,000 after acquiring an additional 6,300 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Cosan Limited by 676.1% during the first quarter. Tower Research Capital LLC TRC now owns 18,247 shares of the basic materials company’s stock worth $156,000 after acquiring an additional 15,896 shares in the last quarter. 43.11% of the stock is owned by institutional investors.
About Cosan Limited
Cosan Limited (Cosan) is a holding company. The Company’s segments include Raizen Energia, Raizen Combustiveis, COMGAS, Cosan Logistica, Lubricants and Other business. The Company’s other business include other investments, in addition to the corporate activities. The Company offers Logistics services, including transportation, port loading and storage of sugar, leasing or lending of locomotives, wagons and other railway equipment, through its subsidiaries Rumo Logistica Operadora Multimodal SA (Rumo), logistic segment (Logistic).
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