(CPL) CPFL Energia – Bull of the Day

November 19th, 2009

We are maintaining our Outperform rating on CPFL Energia (CPL). The company posted in-line results for the third quarter of 2009, despite non-recurring items.

The company’s outlook for the medium-term remains positive, mainly considering the more relaxed monetary policy in Brazil and the growing demand for electricity, even though there is the still-difficult business environment around the world.

Finally, CPL has a solid dividend payout and its valuation appears to be highly attractive, mainly considering the noncyclical nature of the company.

Zacks Investment Research

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