After the recent sell in Brazil, the emerging market looks cheap in the run-up to the October elections.

“We see value in Brazil stocks,” Emy Shayo, JPMorgan Chase & Co.’s head equity strategist for Latin America, told Bloomberg.

Despite the difficulty in predicting the next president, there are still constructive drivers that should benefit stocks over the next few months. For instance, J.P. Morgan expects Brazil to post the best corporate earnings growth in 2018 among Latin American peers. Additionally, a number of its industries are linked to commodities, which benefit from a weaker real currency.

For more information on the Brazilian markets, visit our Brazil category.