Gafisa (NYSE: GFA) Under $3 Brazilian Turnaround Play Could Deliver 100% Upside

More than a half decade removed from a deep crisis, the U.S. housing market is on the mend. Home prices in many cities have been rising again, and the PHLX Housing Sector Index has risen more than 250% from its March 2009 lows.
The other major economy of the Western Hemisphere is still in the midst of a housing hangover. After decades of robust growth that catapulted its economy into the seventh slot in terms of GDP, Brazil's economy in general, and the housing market in particular, is in a pretty deep funk.
As a result, most investors are overlooking a classic turnaround play. Gafisa (NYSE: GFA), a Brazilian homebuilder, has seen its shares plunge by nearly 90% since the global economic meltdown took root in 2008. And though shares are unlikely to re-visit those heights, this fallen stock now has at least 100% upside.  (more)

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