BBInvestimentos (BB-BI) raised the target price of Caixa Seguridade (CXSE3) shares from R$12.70 to R$15.60 for the end of 2024, shows the bank’s report sent to customers last Wednesday night -Friday (31).
The figure represents an increase of 10.4% according to the closing of Wednesday (31), when the asset ended the trading session quoted at R$ 14.13. Analysts maintained their buy recommendation for the stock.
The optimism with the action comes after experts saw that Caixa Seguridade has shown consistent growth in its results. “The company has a good operational performance in the main lines of business, maintaining the accident rate at normal levels”, explain William Bertan and Luan Calimério, who signed the BB Investimentos report.
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They also comment that the company has the exclusive right to access CEF’s customer base and to economically exploit the Caixa brand and its own branch network and other distribution channels, which is very positive.
“Caixa Seguridade also has a relevant market share in the housing and residential sectors, where it has the highest level of commission since the creation of its own brokerage”, argue Bertan and Calimério.
On the other hand, experts warn investors about the risks that the action poses to the investor, such as the unexpected increase in claims and changes in the CEF administration.
“Changes in CEF’s management could lead to changes in the Company’s management and any issues relating to the replacement of key executives could affect business strategies and operational results”, conclude the analysts.