BBD: The Most Popular Bank in Brazil

I lived for a while in Brazil. While there, I used Bradesco for all my transactions. I noticed that it is the fastest growing bank in Brazil. And every time I went there it seemed that it was getting more crowded. The company has great indicators, good growth, and is part of a booming economy. It has a PEG ratio of 1, and earnings estimates are being continually revised upwards. The only downside I see to this stock is that it seems that Brazilian stocks react very similarly to U.S. stocks. And if it begins to mirror the fate of the U.S. banks, then the stock would head down. But I remain optimistic, and believe the $40 one year price target is realistic.