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Investing.com - Scotiabank (TSX:BNS) initiated coverage on Hypera SA (BVMF:HYPE3) (OTC:HYPMY), a $3.17 billion market cap pharmaceutical company, with a Sector Outperform rating and a price target of R$35.00. The stock has shown remarkable momentum, delivering a 68.5% return year-to-date.
The Brazilian pharmaceutical company received the positive rating as Scotiabank recognized it as "one of the strongest consumer health and pharmaceutical operators in Brazil."
Scotiabank highlighted that Hypera is "the only listed equity vehicle with direct exposure to across all categories and segments of the country’s profitable, high-growth pharmaceutical industry."
The firm noted its favorable view of Hypera’s business evolution, describing it as a "transformation story from a personal-care operator to a well-diversified consumer healthcare and pharmaceutical company."
According to Scotiabank, this transformation was completed in 2018, positioning the company to capitalize on Brazil’s pharmaceutical market opportunities.
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