What’s Next for Itau Unibanco Holding SA (ADR) (ITUB) After Achieving 52-Week High?

September 17, 2017 - By Adrian Erickson

The stock of Itau Unibanco Holding SA (ADR) (NYSE:ITUB) hit a new 52-week high and has $14.81 target or 6.00 % above today’s $13.97 share price. The 9 months bullish chart indicates low risk for the $86.58B company. The 1-year high was reported on Sep, 17 by Barchart.com. If the $14.81 price target is reached, the company will be worth $5.19B 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.

The stock increased 1.71% or $0.24 on September 15, reaching $13.97. About 9.80M shares traded or 0.62% up from the average. Itau Unibanco Holding SA (ADR) (NYSE:ITUB) has risen 47.22% since September 17, 2016 and is uptrending. It has outperformed by 30.52% the S&P500.

Analysts await Itau Unibanco Holding SA (ADR) (NYSE:ITUB) to report earnings on November, 7. They expect $0.28 EPS, up 7.69 % or $0.02 from last year’s $0.26 per share. ITUB’s profit will be $1.74B for 12.47 P/E if the $0.28 EPS becomes a reality. After $0.31 actual EPS reported by Itau Unibanco Holding SA (ADR) for the previous quarter, Wall Street now forecasts -9.68 % negative EPS growth.

Itau Unibanco Holding SA (ADR) (NYSE:ITUB) Ratings Coverage

Among 8 analysts covering Itau Unibanco Banco Holding SA (NYSE:ITUB), 2 have Buy rating, 2 Sell and 4 Hold. Therefore 25% are positive. Itau Unibanco Banco Holding SA had 12 analyst reports since July 29, 2015 according to SRatingsIntel. The rating was maintained by JP Morgan on Tuesday, August 16 with “Overweight”. The rating was initiated by Scotia Capital with “Underperform” on Tuesday, March 15. As per Friday, April 8, the company rating was downgraded by Citigroup. The firm earned “Sector Perform” rating on Wednesday, April 12 by Scotia Capital. Deutsche Bank downgraded Itau Unibanco Holding SA (ADR) (NYSE:ITUB) on Tuesday, March 22 to “Hold” rating. The company was downgraded on Thursday, October 15 by Citigroup. The firm has “Sell” rating given on Tuesday, March 29 by Goldman Sachs. Goldman Sachs upgraded Itau Unibanco Holding SA (ADR) (NYSE:ITUB) on Wednesday, July 20 to “Neutral” rating. On Tuesday, October 13 the stock rating was downgraded by Credit Suisse to “Underperform”. On Wednesday, April 27 the stock rating was upgraded by Barclays Capital to “Overweight”.

More news for Itau Unibanco Holding SA (ADR) (NYSE:ITUB) were recently published by: Schaeffersresearch.com, which released: “Petroleo Brasileiro SA Petrobras, Itau Unibanco, GlycoMimetics Stocks Moving Today” on May 18, 2017. Investorplace.com‘s article titled: “Why the iShares MSCI Brazil Index (ETF) (EWZ) Just Plunged” and published on May 18, 2017 is yet another important article.

Itau Unibanco Holding S.A. is a holding company. The company has market cap of $86.58 billion. The Firm provides a range of financial services and products to individual and corporate clients in Brazil and abroad. It has a 12.15 P/E ratio. The Firm operates through three divisions: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation.

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