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MarketScreener Homepage  >  Equities  >  Nyse  >  AES Corporation (The)    AES

AES CORPORATION (THE)

(AES)
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Some Brazil Sectors Still At Risk Despite Forex Shift-Deutsche Bank

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06/01/2012 | 04:00pm EDT

Some sectors of Brazil's economy could continue to face the risk of a slow recovery ahead despite improved foreign-exchange market conditions for local companies, strategists at Deutsche Bank said Friday.

In a research report titled "Latam in the Shadow of the Eurozone Crisis," Deutsche Bank said traditionally reliable plays in the Brazilian market such as the materials and banking sectors could see difficulties owing to depressed commodities prices and financial fallout from events in Europe.

"Ultimately, financial and commodity stocks will be most impacted by a Europe meltdown as well as more leveraged companies dependent upon external financing with short-term maturities," the bank said.

The industrial sector, however, should maintain some resilience as the Brazilian government seeks to protect local jobs and income in an environment of global turbulence.

"We continue to see Brazilian industrials as benefiting from government policy, a shifting macro environment with a weak real, falling rates and compelling valuations," Deutsche Bank said. "Our favorite names include Embraer (ERJ), Iochpe (IOCJY), Randon (RAPT4.BR), and Mahle Metal Leve (LEVE3.BR)."

Falling Brazilian interest rates should also encourage proxies for fixed-income investments, such as utility sector investments in companies like Cemig (CIG), Light (LIGT3.BR) and AES Tiete (GET14.BR).

Deutsche Bank, however, cautions investors not to get too excited over the potential for strong gains on cheaply valued local shares in dollar terms as the government and central bank, it notes, are likely to defend the current exchange rate of around two Brazilian reais to the dollar through market intervention such as swap auctions.

-By Gerald Jeffris, Dow Jones Newswires; +5561-9162-7863; gerald.jeffris@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
AES CORPORATION (THE) -0.57% 12.24 Delayed Quote.-38.49%
AES ELPA SA 0.00%End-of-day quote.0.00%
AES TIETE SA 0.00%End-of-day quote.0.00%
COMPANHIA ENERGÉTICA DE MINAS GERAIS - CEMIG 7.16% 10.03 End-of-day quote.-27.27%
EMBRAER S.A. 6.03% 6.86 End-of-day quote.-65.23%
EURO / BRAZILIAN REAL (EUR/BRL) -1.63% 5.9326 Delayed Quote.34.89%
IOCHPE-MAXION S.A. 5.98% 14 End-of-day quote.-40.12%
LIGHT SA 11.69% 13.76 End-of-day quote.-42.09%
RANDON S.A. IMPLEMENTOS E PARTICIPAÇÕES 7.75% 8.62 End-of-day quote.-35.67%
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Latest news on AES CORPORATION (THE)
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05/15AES CORP : Other Events, Financial Statements and Exhibits (form 8-K)
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05/15AES : Announces Private Offering of Senior Secured First Lien Notes
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Financials (USD)
Sales 2020 10 497 M
EBIT 2020 2 182 M
Net income 2020 825 M
Debt 2020 19 291 M
Yield 2020 4,74%
P/E ratio 2020 10,0x
P/E ratio 2021 8,76x
EV / Sales2020 2,61x
EV / Sales2021 2,51x
Capitalization 8 138 M
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Technical analysis trends AES CORPORATION (THE)
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 11
Average target price 17,45 $
Last Close Price 12,24 $
Spread / Highest target 96,1%
Spread / Average Target 42,6%
Spread / Lowest Target -1,96%
EPS Revisions
Managers
NameTitle
Andrés Ricardo Gluski Weilert President, Chief Executive Officer & Director
John B. Morse Chairman
Bernerd Raymond da Santos Ávila Chief Operating Officer & Executive Vice President
Gustavo Pimenta Chief Financial Officer & Executive Vice President
Sanjeev Addala Chief Information Digital Officer & Senior VP
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