Why Banco Brasdesco (BBD) Stock Is Higher Today

NEW YORK (TheStreet) --Banco Brasdesco (BBD) is up 2.59% to $15.24 on Tuesday, continuing an uptrend in which the stock has gained 29.4% over the past four weeks.

Estimates for the Brazil-based bank have moved higher in the past few weeks as analysts confidence in the company grow.

Shares of Banco Brasdesco climbed yesterday when the bank announced it is negotiating with the Brazilian government over a potential loan for the electric industry clearinghouse CCEE, a privately held company in charge of buying and selling electricity in the spot market.

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BBD Chart BBD data by YCharts

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