In a brief report issued on Tuesday evening (18), Dr XP Investimentos Take up an unusual topic: via (VIIA3), without warning, by surprise, suddenly Bahia Homes e do cold spot, will ask Judicial recovery? The manager explains that in recent days, many investors have sought it out, worried about a possible bankruptcy of the retail group.
The reason for the concern may be the rumors that have recently begun to circulate around the company. Danniela Eiger, Gustavo Senday and Thiago Suedt, who signed the XP suspension, explained that they had contacted the company to clarify the matter.
And they said, “We spoke to the company and it sent us a document stating the existence and circulation of this false news, in addition to denying its authenticity,” adding: “In our view, we see the judiciary’s request for recovery as unlikely.”
The trio lists two reasons not to worry about VIA’s financial health. The first is the lengthening of the debt file, after the last renegotiation. At the end of 2020, for example, only 40% of the liabilities were long-term; Now, the percentage has risen to 78%. The second reason is the monetary situation, which is “still strong”, amounting to R$1.6 billion.
XP also notes that the retailer’s latest steps do not indicate difficulties. “In a potential bankruptcy scenario, companies are looking to conduct cash-enhancing divestitures, while the company recently announced its acquisition of logtech CN.”
Analysts attribute the rumors to investors’ concern about the provision of 1.2 billion R$ of labor debt, announced in the third quarter, that must be repaid in the coming years. The negative economic scenario will add more pressure.
To leave no doubt, XP stresses that it sees “no indication that the company is in the process of filing for bankruptcy at this time.” In any case, the manager maintained his ‘Neutral’ recommendation for the stock, with a target price of R$10, due to “a strong competitive environment in the e-commerce sector and a challenging macroeconomic scenario of 2022”.
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