Senior Credit Analyst - Emerging Markets, EM Spreads

Leandro Gubler

Senior Credit Analyst - Emerging Markets

EM Spreads

Credit

<ul>
<li>We are initiating coverage on Minerva with an Underperform recommendation.</li>
<li>We are cautious about the credit impact of the Marfrig acquisition.</li>
<li>We believe a better entry point into the name may emerge in the future based on our expectation of a weakening credit profile. </li>
</ul>


We are initiating coverage on Minerva with an Underperform recommendation.
We are cautious about the credit impact of the Marfrig acquisition.
We believe a better entry point into the name may emerge in the future based on our expectation of a weakening credit profile. 


Minerva: Balancing an Interesting Credit Story with Acquisition Risks

Brazil

Minerva S.A. provides meat products. The Company focuses on production and sale of fresh meat and its derivatives. Minerva serves clients worldwide.

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Minerva /Brazil (BEEF3 BZ)

Minerva: Balancing an Interesting Credit Story with Acquisition Risks

Initiating coverage on Minerva with Underperform rating due to concerns about credit impact of Marfrig acquisition and expectation of weakening...

Leandro Gubler

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Minerva: Balancing an Interesting Credit Story with Acquisition Risks

​Initiating coverage on Minerva with Underperform rating due to concerns about credit impact of Marfrig acquisition and expectation of weakening...

Leandro Gubler

Initiating coverage on Minerva with Underperform rating due to concerns about credit impact of Marfrig acquisition and expectation of weakening...