The stock of Banco Bradesco SA (ADR) (NYSE:BBD) hit a new 52-week high and has $11.91 target or 21.00% above today’s $9.84 share price. The 8 months bullish chart indicates low risk for the $54.54B company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $11.91 price target is reached, the company will be worth $11.45 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 6.97 million shares traded hands. Banco Bradesco SA (ADR) (NYSE:BBD) has risen 46.41% since March 14, 2016 and is uptrending. It has outperformed by 40.80% the S&P500.
Analysts await Banco Bradesco SA (ADR) (NYSE:BBD) to report earnings on November, 3. They expect $0.22 EPS, down 4.35% or $0.01 from last year’s $0.23 per share. BBD’s profit will be $1.22 billion for 11.18 P/E if the $0.22 EPS becomes a reality. After $0.21 actual EPS reported by Banco Bradesco SA (ADR) for the previous quarter, Wall Street now forecasts 4.76% EPS growth.
Banco Bradesco SA (ADR) (NYSE:BBD) Ratings Coverage
Out of 6 analysts covering Banco Bradesco SA (NYSE:BBD), 2 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 33% are positive. $9 is the highest target while $1.82 is the lowest. The $5.41 average target is -45.02% below today’s ($9.84) stock price. Banco Bradesco SA has been the topic of 8 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of Banco Bradesco SA (ADR) (NYSE:BBD) earned “Buy” rating by Bank of America on Monday, March 14. The firm earned “Neutral” rating on Wednesday, September 21 by Goldman Sachs. As per Tuesday, March 22, the company rating was downgraded by Deutsche Bank. The firm has “Neutral” rating by Goldman Sachs given on Monday, May 2. The firm has “Buy” rating given on Monday, October 12 by Deutsche Bank. The rating was initiated by Scotia Capital with “Underperform” on Tuesday, March 15. The firm earned “Sell” rating on Friday, April 8 by Citigroup.
According to Zacks Investment Research, “Banco Bradesco’s main activities are the provision of banking and insurance services such as private and industrial credit loans, credit cards, mortgaged loans, 24 hour banking, health and life insurance, leasing, pension fund management and services for stock market investors.”
More news for Banco Bradesco SA (ADR) (NYSE:BBD) were recently published by: Investorplace.com, which released: “Why Banco Bradesco SA (ADR) (BBD), Coca-Cola Enterprises Inc (CCE) and Great …” on May 31, 2016. Marketwatch.com‘s article titled: “Banco Bradesco S/A Pref ADR” and published on December 21, 2009 is yet another important article.
BBD Company Profile
Banco Bradesco S.A. (Bradesco), incorporated on January 5, 1943, is a commercial bank. The Firm offers a range of banking and financial services and products in Brazil and abroad to individuals, large, midâ€‘sized and small companies, and local and international firms and institutions. The Firm operates and manages its business through two divisions: the banking segment, and the insurance, pension plans and capitalization bond segment. In its banking segment, the Company offers a range of banking services and products to its clients, including deposit-taking, granting of loans and advance payments, debit and credit card services, and capital market solutions, through its distribution network. The Company’s services and products comprise banking operations, such as loans and advances and depositâ€‘taking, credit card issuance, purchasing consortiums, insurance, leasing, payment collection and processing, pension plans, asset management and brokerage services.
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