Citigroup Upgrades Magazine Luiza Rating to Buy
1 report, 1 independent
Updated Wed 00:00
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What happened
Citigroup upgraded Magazine Luiza's rating from neutral to buy in a research report released on October 20th. MarketBeat currently shows a consensus rating of buy for the company. During October, short interest in Magazine Luiza dropped by 33.7%, falling from 10,611 shares on September 30th to 7,032 shares on October 15th.
From themarketsdaily.com
Why it matters
The upgrade by Citigroup reflects a positive shift in Wall Street analysis regarding the Brazilian retail and technology company. The concurrent drop in short interest suggests improving market confidence in Magazine Luiza's stock performance.
From themarketsdaily.com
Who's involved
- CitigroupAmerican investment bank that issued the rating upgrade
- MarketBeatAmerican personal finance blog providing consensus rating data
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The entities involved
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Citigroup
American investment bank and financial services corporation
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MarketBeat
American personal finance blog
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