Economics
Brazil, Chile and Colombia Are Favored Markets at Morgan Stanley
- New York bank sees 19% upside for MSCI Latin America index
- Petrobras, Globant, PagSeguro are among the region’s top picks
Central Bank of Brazil headquarters in Brasilia.
Photographer: Gustavo Gomes/BloombergThis article is for subscribers only.
Morgan Stanley calls Brazil, Chile and Colombia among the top Latin American equity markets to play a pickup in economic growth and a global rebound over the next several quarters.
The MSCI Emerging Markets Latin America index is expected to end 2020 at 3,200, implying an upside potential of about 19% in U.S. dollar terms from current levels, analysts Guilherme Paiva, Juan Ayala, Cesar Medina and Nikolaj Lippmann wrote in a report dated Nov. 19. “We expect global and local factors to support gains throughout 2020.”