As I have written before, U.S. investors are not exactly spoiled for choice when it comes to Brazilian investments. Cosan Ltd. (NYSE:CZZ)
has a lot to offer, including exposure to multiple major long-term
opportunities within Brazil's economy, but the holding company structure
is complicated and this is a difficult company to track and model.
Still, with a holding company discount rate in excess of 30%, relatively
healthy underlying fundamentals for the sugar, ethanol, and retail fuel
businesses, and good long-term prospects in the rail business, this is
worth a look.
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Painfully Complex, Cosan Remains An Undervalued Play On Brazil
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