JPMorgan flags Cyrela (CYRE3) valuation after 51% drop; analysts see further downside

Cyrela shares have fallen 51% since the start of the devaluation, and JPMorgan analysts are assessing whether the stock is cheap, noting potential further declines. The report highlights persistent uncertainty in the Brazilian real estate sector, with the market pricing in continued weakness. The key question is whether the current valuation reflects a bottom or if additional downside remains.

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