Goldman Sachs has decided to maintain its Sell rating of Bank Bradesco (NYSE:BBD) and lower its price target from $3.20 to $2.80.

Shares of Bank Bradesco are trading up 0.0% over the last 24 hours, at $2.83 per share.

A move to $2.80 would account for a 1.06% decline from the current share price.

About Bank Bradesco

Banco Bradesco is Brazil's second-largest private bank, with about 15% of deposits, and the largest insurance provider in Brazil, with roughly 20%-25% market share. The bank is majority controlled by the Bradesco foundation—a private nonprofit institution focused on education. Banking provides roughly 70% of profits, while the insurance segment contributes the remaining 30%. The bank is also a major asset manager with high-single-digit market share. In 2016, Bradesco acquired the Brazilian operations of HSBC.

About Analyst Ratings

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Goldman Sachs Maintains Sell Rating for Bank Bradesco: Here's What You Need To Know