JPMorgan adjusts Rumo target price amid Cosan stake sale potential

JPMorgan has adjusted its outlook for Rumo (RAIL3), reducing the target price from R$ 20 to R$ 19.50 while maintaining a neutral recommendation. Despite the reduction, the bank views the potential sale of Cosan's stake in Rumo as a positive catalyst. Cosan intends to sell a 20% stake, which could reach 30% when considering derivative operations. Potential interested parties include Ultrapar, Grupo México, Inpasa, Bunge, and Cofco, with final proposals expected in September.

In separate market activity, Ágora Investimentos issued day trade recommendations for the session. The firm suggested buying Prio (PRIO3), Sabesp (SBSP3), and Totvs (TOTS3), while recommending the sale of B3 (B3SA3), Cyrela (CYRE3), and Rumo (RAIL3).