US investment bank Morgan Stanley has begun covering Brazilian railroad operator América Latina Logistica (ALL) with a recommendation of overweight, local daily InfoMoney reported.
The bank set a target price of 26 reais per share. ALL shares closed Wednesday (Nov 8) on the São Paulo stock exchange Bovespa at 19.50 reais.
Morgan Stanley emphasized the importance of ALL's recent acquisition of Brasil Ferrovias, which, when fully integrated, will increase ALL's market share of agricultural and freight transport.
ALL controls 21,000km of track across Brazil's Mato Grosso, Mato Grosso do Sul, São Paulo, Paraná, Santa Catarina and Rio Grande do Sul states and Argentina's Rosario, Mendoza and Buenos Aires provinces.


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