Gerdau: Too High In This Macro (Rating Downgrade)

2025-12-07 08:07:18 ET

In my last article on Gerdau S.A. ( GGB ) , I gave the company a positive, bullish rating. The company has performed well, with a return of close to double digits in about a year. Well, but not market-beating nor exceptional. There are indications that the company may go higher from here as well; since about April, we've seen a significant bounce in the company's valuation. However, we're also, compared to December of 2024, in a situation where the company is definitely at more of a premium. Furthermore, it's not necessarily supported any longer by forecasts....

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