Yesterday (30), MRV informed the market that its subsidiary in the United States had sold the Old Cutler project. (Image: Disclosure)
The announcement of the sale of the American enterprise by the subsidiary of MRV (MRVE3), Resia, continues to resonate in the market.
Now it was the turn of BB Investimentos issue a new report on the company, this time, with a new target price for the end of 2025 of R$14, compared to R$17.50, which opens up the potential to almost double in relation to yesterday's price, when closed at R$7.32.
The reduction comes after the bank incorporated the most recent results and updated the company's macroeconomic assumptions in the valuation.
The episode involving the sale of the project made analyst Felipe Mesquita evaluate the recharacterization of the expected growth curve for the company's operations in the American market through the subsidiary.
Yesterday (30), MRV informed the market that its subsidiary in USAsold the Old Cutler development, located in Miami, for a General Sales Value (PSV) of US$ 118.5 million.
Previously, BB considered in its assessment a substantial growth for the company's operations in the international market, which would tend to benefit from stronger demand as a result, mainly with the beginning of the cycle of interest cuts that were expected at the beginning of the year .
However, with this cycle only starting in September, the effect on demand for units produced by Resia was negatively affected, with one-off sales being made to recycle the portfolio and alleviate the company's current cash situation.
Even so, the bank continues to project growth for the subsidiary's operations in the coming years, but now in a “more modest” way.
In this session, the stock led the gains of the Ibovespa, with an increase of 5%.
What to do with the shares?
Miranda also remembers that the actions of MRV they have depreciated by around 26% in the last 12 months, with -34% in the current year alone.
“Such a movement was quite disconnected from the performance of both Ibov and the Real Estate index, both positive in the annual window. This occurred, in our opinion, as a result of a cautious assessment by the market regarding the company's consolidated debt levels, as well as the level of cash burn presented by MRV in the results until the end of the first half of 2024”, he explains. the analyst.
BB remains optimistic about the share and continues with the purchase recommendation, due to the good operational moment in which the Brazilian development arm has been presenting.