The Swiss investment bank says it sees 'near-term catalysts playing a major role' in the performance of its stock picks.
Latin American stocks managed to dodge the battering their North American peers got in 2022. And investment bank UBS thinks the bull run will continue this year. This sentiment is also reflected in the iShares Latin America 40 ETF , which is up nearly 4% this year after delivering a 10% gain last year. The U.S. benchmark S & P 500 is up by a similar amount this year — but slid by more than 19% in 2022.
Sabesp The investment bank expects shares in Sao Paulo state-based water supply and treatment company Sabesp to rise by 59% over the next 12 months, which aligns with consensus estimates. UBS said the company, one of the world's largest sanitation companies serving 28 million people in Brazil, will benefit from the efficiency and privatization drive expected from the newly elected São Paulo state chamber.
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