Brazilian analysts cut Brava Energia target and revamp July stock picks

Bank of America lowered its price target for Brava Energia (BRAV3) to R$ 22.50 from R$ 26.50, keeping a neutral rating. The bank cited operational risks and uncertainty around a possible control‑sale to Colombia’s Ecopetrol, as well as weaker global Brent‑oil forecasts.

Itaú BBA updated its July recommended portfolio, removing Aura Minerals, Equatorial, and Petrobras and adding Embraer, Nubank, Sabesp and Bradesco, while keeping Axia Energia. Analysts highlighted Embraer’s record‑high order backlog and defense‑order potential, Nubank’s lower valuation after a 25% share decline, Sabesp’s role in the Universaliza SP 2 program, and Bradesco’s attractive credit‑quality outlook. Petrobras was dropped because the oil outlook worsened after the US‑Iran cease‑fire and Brent fell toward US$ 72.