11 August 2024 | 11:06PM BRT 2131d4eaf4cb4d50b1d51c8af07b64b4 Brazil Protein: 2Q24 earnings season warm-up; Buy JBS We expect JBS and BRF to report solid earnings, as both of them leverage their exposure to buoyant global chicken markets. We reiterate our Buy-rating and relative preference for JBS, as we see higher upside risks to consensus expectations, a cheaper valuation, more limited short-term risks, and a more diversified business mix. n We see a positive asymmetry on JBS shares ahead of earnings. Our ...