BRAZIL-CREDIT UPGRADE FOR MEAT COMPANY.
Credit Suisse upgraded its recommendation for shares of Brazilian meatpacker Perdigao S/A (PDA) to outperform from neutral, the investment house said Tuesday in a research report for its clients. "[We are] upgrading Perdigao to outperform on adjusted valuation grounds. Perdigao has dropped 19%, underperforming the Ibovespa [the local stock market’s main index] by 18%, on weak export volumes and prices in the fourth quarter and in the first two months of 2009," said Credit Suisse.