XP reduces the weight of BRAV3 and SOJA3 shares and increases ORVR3 and POMO4 in the small cap portfolio (Image: REUTERS/Amanda Perobelli)
For October, the XP Investimentos reduced the shares of Brava (BRAV3) e Good Harvest (SOJA3) in the recommended portfolio of small caps to 5%. In return, the house increased the weight of Horizon (ORVR3) e Marcopolo (POMO4) to 15%.
In relation to BRAV3, analysts explain that the company faced challenges regarding the performance of its shares, mainly due to the interruption of production in Papa-Terra.
As for SOJA3, Fernando Ferreira, Jennie Li and Felipe Veiga justify the reduction due to the lack of visibility of short-term results, which can negatively influence the performance of the shares.
ORVR3, in turn, has expanded its portfolio with recent announcements of acquisitions of new landfills and parks for biomethane production — “initiatives that we believe add value to the company”, they say.
Finally, for POMO4, analysts expect earnings momentum to remain strong going forward, with consistent upward consensus revisions leading to a level of valuation discounted
The rest of the portfolio is made up of Anima Education (ANIM3), BR Partners (BRBI11), Copasa (CSMG3), Cury (CURY3), SBF (SBFG3) e edge (RAPT4).
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In September, the stock portfolio had a negative performance of 8%, while the Ibovespa (IBOV) fell 3.1%.
Brava and Ânima had the worst performances, with drops of 33.1% and 28.4%, respectively.
On the other hand, Marcopolo and Orizon were the only shares in the portfolio that rose in the month, 8.2% and 3.2%.
Small caps to invest in October