Not Appealing in the Short Term: LIGT3 and CPLE6. Unjustifiably strong performance by Light and no short-term catalysts for Copel.
Long & Short
Long CMIG4 & Short LIGT3. Light is unlikely to sustain the recent strong performance; while Cemig is likely to benefit from the news flow on the EDP privatization, as we do not expect the company to win the bid.
Long ENBR3 & Short ELET6. The conclusion of the EDP privatization is expected to generate positive momentum for ENBR3 (even if Eletrobras wins) and negative momentum for Eletrobras (only if it wins).”