Brazil's Caixa Seguridade slips on JPMorgan downgrade

About this update from Caixa Seguridade Participacoes Sa

** Shares in Brazilian insurance firm Caixa Seguridade BMFBOVESPA:CXSE3 fall as analysts at JPMorgan downgrade their recommendation on the stock to "Neutral" from "Overweight" ** The analysts say insurers tend to benefit less as Brazil's interest rate environment turned more dovish, with the benchmark rate peak now priced in at around 14.75%, from around 17% in December** "While we see Caixa Seguridade as a premium business model, we see limited upside at current levels and we are less excited," the analysts write in a note to clients** Caixa Seguridade's shares slip more than 2.5%, among the biggest fallers on benchmark stock index Bovespa BMFBOVESPA:IBOV, which is up 0.5

View stock analysis, news, and events for Caixa Seguridade Participacoes Sa