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Oil giant excluded from stock picks for March

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Vincent

With the troubled scenario for Brazil amid debates about the extension of the emergency aid, a weak economy and the spread of the pandemic, stock recommendations in March are now focused on exporting companies and commodity producers. These companies represented half of the 10 companies that make up Carteira Valor, a portfolio of stock picks, this month.

Oil giant Petrobras, directly affected by President Jair Bolsonaro's decision to sack CEO Roberto Castello Branco, is no longer part of the list of most recommended stocks after 55 consecutive months - since August 2016. Even as oil prices are expected to rise, analysts are concerned that the appointment of Army General Joaquim Silva e Luna, currently CEO of power utility Itaipu Binacional, will put price parity policy at risk and hinder the state-owned company's plans to divest assets, especially refineries.

As a result, the top recommendation is now mining company Vale, mentioned 15 times. Analysts say the company is well positioned to take advantage of higher global demand for iron ore, especially with China's recovery.

The list of stocks gaining ground with the prospect of recovery of the global economy, higher commodity prices and a weakened real against the dollar includes steel maker Gerdau, recommended by seven asset-management firms; meatpacker JBS, picked by three; and...

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