This report provides a summary of corporate updates, industry trends, and rating changes for Latin American equities as of June 24, 2026. It highlights a cautious outlook on Brazilian banks and provides updates on diverse sectors including retail, homebuilding, and healthcare.
Key Takeaways
- 1.Citi Research analysts are turning more cautious on Brazilian banks due to a deteriorating macro environment and rising asset quality pressures.
- 2.Brazil's oil production may reach new records in coming months as maintenance ends and new units ramp up.
- 3.Judicialization in Brazil's private healthcare remains high, with May 2026 data showing a 20% year-over-year increase, signaling persistent cost pressure for operators.
Table of Contents
- Top Call
- Company
- Industry
- Key Rating and Target Price Changes
- Appendix A-1
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Authors
Gustavo SchrodenBrian FloresArnon Shirazi, CFA
Securities
ITUBABEV3.SAJBSS3
Themes
Macro-economic deterioration in BrazilAsset quality pressures in bankingCorporate cost control and margin pressure
Regions
Latin AmericaBrazilMexicoPeru