Sabesp Stock Upgraded: A Cheap Utility in Brazil?

Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...

Companhia de Saneamento Basico do Estado de Sao Paulo (NYSE: SBS) isn't exactly a name that rolls off the tongue -- nor is it a household name here in the United States. And yet, according to one investment banker, this Brazilian water utility could provide a very tidy profit to investors unafraid to invest a bit farther from U.S. shores.

Here's what you need to know about this upgrade.

Source: Fool.com