Earnings Trends Cloud ECM Issuance Expectations
With earnings season in full swing in Brazil, public companies’ target revisions and below-forecast results have complicated the picture for both equity market performance and new issuance prospects through the rest of the year. “Revisions in Brazil have been among the worst in the region. The 53% rate [of companies beating earnings estimates] is in line with the average, but the expectations were much lower,” Francisco Schumacher, equity strategist at...
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