In the Brazil presidential election, the results are in and Rouseff won re-election. This bodes poorly short-term for the stocks including EWZ, PBR, and ITUB. The price target publicized for PBR if this event occurred is that it could go down to $12 per share. While this may impact trading in Brazil on Monday, this will not affect the long-term positive outlook for these shares in my opinion. I rate all three stocks as buys and have long positions in all of them.
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