IBOVESPA Will Hit 120,000 Points Next Year: Morgan Stanley

Morgan Stanley sees a 12 percent hike for IBOVESPA during the next year with an accelerating economic growth scenario and low interest rates.

RIO DE JANEIRO, BRAZIL - Brazilian stocks should benefit from a scenario of accelerating economic growth, low interest rates and continued flexibility of social measures in the country, according to Morgan Stanley.

The bank projects the IBOVESPA stock market index to close 2021 at 120,000 points, suggesting potential for a 12 percent increase over closing on Tuesday. A stronger than expected recovery in Brazil "should continue providing a positive tailwind for domestic stocks," said strategists led by Guilherme Paiva in a report on November 17th.

The relatively low rate of novel coronavirus infections in Brazil and early summer in the . . .

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