
Bear Stearns downgrades Embratel, ups price target
Bnamericas Published: Friday, June 13, 2003
Bear Stearns has downgraded its recommendation on Brazilian long-distance carrier Embratel from "outperform" to "peer perform." After a recent rally, Bear sees limited upside potential for Embratel's ADRs, which have gained more than 200% since February. The bank has revised its end-2003 price target for Embratel to US$2.60/ADR from US$1.80/ADR previously. On Wednesday, the company's receipts closed at US$2.55/ADR. Embratel's new price target follows Bear's revised country risk premium for Brazil, which was lowered from 1,000 basis points to 800 bps above US Treasuries. Starting June 16, Embratel's ADR ratio will change from 1,000 shares/ADR to 5,000. Embratel is a subsidiary of US telecom giant MCI, formerly WorldCom. by Sergio Caldas
Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.
News in: ICT (Brazil)

Brazil preps tender for public services automation
The planning and public services innovation ministry is set to launch a tender by March.

LatAm ICT financing, investment watch
An overview of the latest investment, startup funding and tech investment announcements.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects in: ICT
Get critical information about thousands of ICT projects in Latin America: what stages they're in, capex, related companies, contacts and more.
- Project: Padre Hurtado Data Storage Center
- Current stage:
- Updated:
4 days ago
- Project: Second Data Center in Barranquilla
- Current stage:
- Updated:
3 weeks ago
- Project: Microsoft Project SCL03
- Current stage:
- Updated:
3 weeks ago
- Project: Galapagos Submarine Cable
- Current stage:
- Updated:
3 weeks ago
- Project: Hortolândia Data Center Extension 6
- Current stage:
- Updated:
4 weeks ago
- Project: Submarine Cable Aurora
- Current stage:
- Updated:
3 weeks ago
- Project: Hortolândia Data Center Extension 5
- Current stage:
- Updated:
4 weeks ago
- Project: Cable submarino Firmina
- Current stage:
- Updated:
1 month ago
- Project: Falcon de Layer 9 Data Centers
- Current stage:
- Updated:
1 month ago
- Project: Data Center in Porto Alegre (SPOAPA01)
- Current stage:
- Updated:
2 months ago
Other companies in: ICT (Brazil)
Get critical information about thousands of ICT companies in Latin America: their projects, contacts, shareholders, related news and more.
- Company: Cargo X
-
Launched in 2016, CargoX is an "asset-free" cargo transport e-commerce services company that connects self-employed truck drivers in Brazil to shippers in need of logistics serv...
- Company: Brasscom
-
Brasscom, Brazilian Association of Information Technology and Communication Companies, serves as an articulator between the public and private sectors at the federal, state and ...
- Company: Ministério da Ciência, Tecnologia e Inovações  (MCTI)
-
Ministério da Ciência, Tecnologia, e Inovações (MCTI) operates as an administrative body of the Brazilian Federal Government and is responsible for the following areas: nationa...
- Company: Governo do Estado de Minas Gerais  (Gobierno de Minas Gerais)
-
The Minas Gerais state government covers 853 municipalities and a population of 19mn people in southeastern Brazil. It operates through a number of departments including transpo...
- Company: Governo do Estado de Paraná
-
The Government of the State of Paraná is an organization of the Federative Republic of Brazil ruled by the 1989's Federal Constitution which is aimed at developing, providing pu...
- Company: Axis Communications AB  (Axis Communications)
-
Axis is an IT company offering network video solutions for professional installations. The company is the global market leader in network video, driving the ongoing shift from a...