JPMorgan's downgrade of Brazil to Neutral and a lower 185,000 Ibovespa target reflect the end of the rate-cut cycle and pre-election caution.
Brazil · Markets
Key Facts
Rating cut JPMorgan moved Brazilian equities to Neutral from Overweight on Aug. 11, 2026.
Target trimmed Year-end Ibovespa target lowered to 185,000 points from 190,000.
Rate cycle Bank expects just one more 0.25 pp Selic cut in September, then a pause into Q2 2027.
J.P. Morgan reduz recomendação para Brasil com piora do cenário macro
JPMorgan rebaixa recomendação de investimentos no Brasil de overweight (compra) para neutro
JPMorgan reduz recomendação para ações brasileiras e cita volatilidade eleitoral
Às vésperas da eleição, estrangeiro acelera saída da bolsa brasileira
