Bradesco BBI lowered its target price for JBS BDRs (Brazilian depositary receipts) from R$ 110 to R$ 97, revising its estimates to incorporate more conservative margins for 2026 and 2027. Despite the cut, the bank maintained its buy recommendation and continues to view the company as its main long-term investment thesis in the protein sector. JBS is due to report its results on August 10, after the market closes.
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