The stock of Itau Unibanco Holding SA (ADR) (NYSE:ITUB) hit a new 52-week high and has $19.96 target or 62.00% above today’s $12.32 share price. The 7 months bullish chart indicates low risk for the $70.18 billion company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $19.96 price target is reached, the company will be worth $43.51 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 10.05 million shares traded hands. Itau Unibanco Holding SA (ADR) (NYSE:ITUB) has risen 38.79% since March 14, 2016 and is uptrending. It has outperformed by 33.18% the S&P500.
Analysts await Itau Unibanco Holding SA (ADR) (NYSE:ITUB) to report earnings on November, 1. They expect $0.28 EPS, down 3.45% or $0.01 from last year’s $0.29 per share. ITUB’s profit will be $1.60 billion for 11.00 P/E if the $0.28 EPS becomes a reality. After $0.29 actual EPS reported by Itau Unibanco Holding SA (ADR) for the previous quarter, Wall Street now forecasts -3.45% negative EPS growth.
Itau Unibanco Holding SA (ADR) (NYSE:ITUB) Ratings Coverage
Out of 8 analysts covering Itau Unibanco Banco Holding SA (NYSE:ITUB), 2 rate it a “Buy”, 3 “Sell”, while 3 “Hold”. This means 25% are positive. $30 is the highest target while $10 is the lowest. The $20.50 average target is 66.40% above today’s ($12.32) stock price. Itau Unibanco Banco Holding SA has been the topic of 11 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The rating was upgraded by Barclays Capital on Wednesday, April 27 to “Overweight”. The firm has “Sell” rating given on Friday, April 8 by Citigroup. The stock of Itau Unibanco Holding SA (ADR) (NYSE:ITUB) earned “Underperform” rating by Scotia Capital on Tuesday, March 15. Citigroup downgraded Itau Unibanco Holding SA (ADR) (NYSE:ITUB) on Thursday, October 15 to “Neutral” rating. The stock of Itau Unibanco Holding SA (ADR) (NYSE:ITUB) has “Neutral” rating given on Wednesday, July 20 by Goldman Sachs. The rating was downgraded by Deutsche Bank on Tuesday, March 22 to “Hold”. The rating was downgraded by Credit Suisse to “Underperform” on Tuesday, October 13. JP Morgan maintained Itau Unibanco Holding SA (ADR) (NYSE:ITUB) rating on Tuesday, August 16. JP Morgan has “Overweight” rating and $11 price target. The stock of Itau Unibanco Holding SA (ADR) (NYSE:ITUB) earned “Sell” rating by Goldman Sachs on Tuesday, March 29.
According to Zacks Investment Research, “BANCO ITAU -ADR’s main goal is to focus on an equilibrium between growth and profitability, aimed at always generating value for the stockholder in the long run.”
More news for Itau Unibanco Holding SA (ADR) (NYSE:ITUB) were recently published by: Quotes.Wsj.com, which released: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011. Nasdaq.com‘s article titled: “Itau Unibanco Holding SA ADS (ITUB): New Analyst Report from Zacks Equity …” and published on January 06, 2014 is yet another important article.
ITUB Company Profile
Itau Unibanco Holding S.A. (Itau Unibanco Holding), incorporated on October 9, 1943, is a holding company. The Firm provides a range of financial services and products to individual and corporate clients in Brazil and abroad. The Firm operates through three divisions: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. The Firm is engaged in banking activities, through its commercial, investment, real estate loan, finance and investment credit, and lease portfolios, including foreign exchange activities and other complementary activities, with emphasis on insurance, private pension plans, capitalization, securities brokerage and administration of credit cards, consortia, investment funds and managed portfolios. The Company’s distribution network is divided into standard channels, which include branches, customer site branches (which are banking service centers located at certain corporate clients) (CSBs), automatic teller machines (ATMs), telephones, and digital channels, such as Internet banking and mobile banking. The Company’s standard branch network reaches approximately 3,910 branches. It has over 25 branches in Brazil. The Company’s services and products include credit cards, payroll loans, vehicles, real estate financing and mortgages, consortia services fees, merchant acquirer, insurance, pension plans, premium bonds and retail banking.
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