By Jeffrey T. Lewis

SÃO PAULO--Hapvida Participações e Investimentos's shares rose 3.4% after the Brazilian health insurance provider was the subject of a positive report by analysts at Itaú BBA.

Shares reached 4.59 reais, the equivalent of 93 cents, and were down 13% from the end of last year through Monday's close. Brazil's benchmark Ibovespa stocks index was up 0.8% in morning trading.

Hapvida's shares are priced at a very attractive entry point for investors after a weak recent performance, the analysts said. The company posted robust results in the second quarter, and Itaú BBA raised its projections for the insurer across the board.

Hapvida has been cautious in its approach to short-term net additions, focusing on boosting profit via price hikes and adjustments to its service-provider network. The company's cost-control efficiency should help make it the most affordable option in the industry, the analysts said.

Write to Jeffrey T. Lewis at

(END) Dow Jones Newswires

09-12-23 1033ET