SABESP - ADR (SBS)
by Zacks Equity ResearchSeptember 04, 2012 | Comments : 0 Recommended this article: (0)
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SABESP keeps up its position as one of the largest water and sewage services providers in the world. It recorded a rise in billed water and sewage volume during the second quarter 2012, primarily due to a higher number of connections and acceleration in consumption. Its non-cyclical regulated utility business in the Brazilian emerging market is an attractive and relatively low-risk investment opportunity.
Despite a little setback emanating from a rise in cost of sales and services, long-term growth prospects compelled us to maintain an Outperform recommendation on the stock. Our $105.00 price objective results from 13.4x earnings multiple (2012).
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