2024-05-13 12:13:06 ET
Summary
- Brazil's economy has improved, making Telefonica Brasil a better buy.
- Brazil has successfully fought inflation, which is positive for the market and economy.
- The Central Bank has room for rate cuts if inflation remains low.
Overview
Brazil was a top-performing emerging market in 2023, as it outperformed emerging markets by over 20 percentage points. Following a short-term pullback this year, Brazil equities are now priced at a bargain, as the market currently trades at 8.2 earnings and 1.5x book....
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Telefonica Brasil: Poised For A Strong 2024