Price Target Update on Itau Unibanco Banco Holding SA (NYSE:ITUB)

Itau Unibanco Banco Holding SA (NYSE:ITUB) stock is expected to deviate a maximum of $0.71 from the average target price of $7.5 for the short term period. 2 Street Experts have initiated coverage on the stock with the most promising target being $8 and the most muted being $7.

Other Equity analysts have also commented on the company shares. Brokerage firm HSBC downgrades its rating on Itau Unibanco Banco Holding SA (NYSE:ITUB). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on June 2, 2016.

Itau Unibanco Banco Holding SA (NYSE:ITUB): stock turned positive on Thursday. Though the stock opened at $8.7, the bulls momentum made the stock top out at $8.98 level for the day. The stock recorded a low of $8.6 and closed the trading day at $8.98, in the green by 5.40%. The total traded volume for the day was 12,341,501. The stock had closed at $8.52 in the previous days trading.

The company shares have dropped -21.98% from its 1 Year high price. On Jul 2, 2015, the shares registered one year high at $11.24 and the one year low was seen on Jan 21, 2016. The 50-Day Moving Average price is $8.57 and the 200 Day Moving Average price is recorded at $7.69.

Itau Unibanco Holding S.A. (Itau Unibanco Holding) is a holding company. The Company provides a range of financial products and services to individual and corporate clients in Brazil. It operates in four segments: Commercial Bank-Retail, which offers a range of banking services for retail individuals or clients and for companies, including services, such as asset management, investor services, insurance, private pension plans and credit cards issued to account holders; Consumer Credit-Retail, which offers financial products and services to account holders, such as vehicle financing, credit card transactions and consumer financing; Wholesale Bank, which offers wholesale products and services to large and medium-sized companies, as well as investment bank activities and The Activities with the Market and Corporation segment manages the interest income associated with ITAU UNIBANCO HOLDING capital surplus, subordinated debt surplus and the net balance of tax credits and debits.

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