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BBD - Banco Bradesco: On Track For A 2021 Recovery
Banco Bradesco Sa American Depositary Shares
Bradesco outlines a favorable longer-term growth outlook at its recent analyst day event, with the strong traction at its digital platforms a notable highlight.
The near-term outlook is also upbeat, and a return to pre-pandemic levels is now the base case for fiscal 2021.
The c. 10x P/E multiple seems far too cheap for a business capable of sustaining ROEs in the mid to high-teens % through the cycles.