Could Banco Bradesco SA (ADR) (BBD) See a Reversal After Breaking Its 52-Week High?

September 17, 2017 - By Darrin Black

The stock of Banco Bradesco SA (ADR) (NYSE:BBD) hit a new 52-week high and has $12.29 target or 7.00 % above today’s $11.49 share price. The 9 months bullish chart indicates low risk for the $69.34 billion company. The 1-year high was reported on Sep, 17 by Barchart.com. If the $12.29 price target is reached, the company will be worth $4.85 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.

The stock increased 2.32% or $0.26 on September 15, reaching $11.49. About 9.15 million shares traded. Banco Bradesco SA (ADR) (NYSE:BBD) has risen 43.32% since September 17, 2016 and is uptrending. It has outperformed by 26.62% the S&P500.

Analysts expect Banco Bradesco SA (ADR) (NYSE:BBD) to report $0.22 EPS on November, 9.They anticipate $0.01 EPS change or 4.35 % from last quarter’s $0.23 EPS. BBD’s profit would be $1.33B giving it 13.06 P/E if the $0.22 EPS is correct. After having $0.24 EPS previously, Banco Bradesco SA (ADR)’s analysts see -8.33 % EPS growth.

Banco Bradesco SA (ADR) (NYSE:BBD) Ratings Coverage

Among 6 analysts covering Banco Bradesco SA (NYSE:BBD), 3 have Buy rating, 1 Sell and 2 Hold. Therefore 50% are positive. Banco Bradesco SA has $12.4 highest and $1.82 lowest target. $10.70’s average target is -6.88% below currents $11.49 stock price. Banco Bradesco SA had 10 analyst reports since July 29, 2015 according to SRatingsIntel. The rating was downgraded by Citigroup on Friday, April 8 to “Sell”. The stock has “Hold” rating by Deutsche Bank on Tuesday, March 22. The stock has “Sector Perform” rating by Scotia Capital on Wednesday, April 12. Goldman Sachs maintained the stock with “Neutral” rating in Wednesday, September 21 report. As per Monday, September 11, the company rating was upgraded by Goldman Sachs. Goldman Sachs maintained Banco Bradesco SA (ADR) (NYSE:BBD) on Monday, May 2 with “Neutral” rating. Scotia Capital initiated the shares of BBD in report on Tuesday, March 15 with “Underperform” rating. The stock of Banco Bradesco SA (ADR) (NYSE:BBD) has “Buy” rating given on Monday, March 14 by Bank of America. The rating was upgraded by Deutsche Bank on Monday, October 12 to “Buy”.

More news for Banco Bradesco SA (ADR) (NYSE:BBD) were recently published by: Benzinga.com, which released: “18 Biggest Mid-Day Losers For Thursday” on May 18, 2017. Investorplace.com‘s article titled: “Why Banco Bradesco SA (ADR) (BBD), Coca-Cola Enterprises Inc (CCE) and Great …” and published on May 31, 2016 is yet another important article.

Banco Bradesco S.A. is a commercial bank. The company has market cap of $69.34 billion. The Bank offers a range of banking and financial services and products in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international firms and institutions. It has a 12.07 P/E ratio. The Company’s divisions include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.

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