Arcos Dorados shares plunge following Brazil election results and target price cut
ARCO Arcos Dorados Holdings Inc
$7.00 +0.86%
View chart & analysis → - 1Arcos Dorados shares were caught in a widespread sell-off due to the Brazil election results.
- 2Bank of America Securities analyst Robert Ford Aguilera cut the previous target price for Arcos Dorados from $12 per share to a revised target price of $9 per share.
- 3Brazil sales account for nearly 40% of Arcos Dorados' recently reported quarterly revenue.
So what's the key point?
Arcos Dorados shares were sold off heavily following the Brazil election results. Experts lowered the price they expected the stock to reach from $12 to $9.
Source The Motley Fool +1 · View original ↗
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