B of A Securities Downgrades Cia Energetica DE Minas: Here's What You Need To Know

B of A Securities downgraded its rating of Cia Energetica DE Minas CIG to Neutral with a price target of $2.60, changing its price target from $3.20 to $2.60.

Shares of Cia Energetica DE Minas are trading down 3.95% over the last 24 hours, at $2.19 per share.

A move to $2.60 would account for a 18.72% increase from the current share price.

About Cia Energetica DE Minas

Cia Energetica DE Minas Gerais - Cemig Formerly Energy Company of Minas Gerais is a Brazilian power company that generates, transmits, and distributes electricity. As one of the largest power companies in Brazil, the firm operates across most Brazilian states and Chile. The company has various subsidiaries and operates chiefly through its generation, transmission, distribution, and gas segments. The majority of the company's revenue is derived from electricity sales to consumers. The company generates power primarily through hydroelectric resources and secondarily through thermal and wind resources.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.