Cosan (CSAN) Down More than 25.75% YTD, Wall Street Sees More Than 33% Upside

Company Overview - Cosan S.A. (NYSE:CSAN) is a Brazilian company specializing in the fuel distribution business, founded in 1936, and operates through five segments: Raízen, Compass, Moove, Rumo, and Radar [4] Financial Performance - Cosan S.A. has experienced a decline of more than 25.75% year-to-date, but Wall Street analysts project an upside potential of over 33% from current levels [1] - The company has not been profitable over the past 12 months, but expectations are for a return to profitability by 2026, with sales forecasted to grow at 2.63% [3] Ratings and Outlook - Fitch Ratings affirmed the company's Long-Term Foreign and Local Currency Issuer Default Ratings at BB, but revised the outlook to negative from stable due to elevated leverage and reliance on asset sales to manage debt [1][2] - HSBC upgraded Cosan S.A. from Sell to Hold with a price target of $5, reflecting the company's recent BRL 10.5 billion equity issuance at BRL 5.00 per share, which increased outstanding shares by 112% [3]