Brazil · Steel & Mining
Key Facts
—Upgrade: Goldman Sachs lifted its rating on Brazil Usiminas steel shares to Buy from Neutral on Thursday and raised the twelve-month price target on the preferred shares to R$10.50 ($1.88) from R$6.60 ($1.18), an effective 59 percent target lift.
—Performance: The preferred shares were trading at R$9.68 ($1.73) at midday after the upgrade, up 0.7 percent on the session, having already accumulated a 60.7 percent gain year-to-date and 76 percent over the past twelve months.
—Earnings forecast: Goldman raised its earnings before interest, taxes, depreciation and amortization estimates by up to 70 percent and now projects company-level growth of 49 to 107 percent across 2026 and 2027 versus 2025, sitting 13 to 30 percent above the consensus.
