ITUB Forecast

Bullish Case: ITUB's Q1 2024 results outpace expectations, with significant loan growth projections indicating robust financial health. The low P/B ratio suggests undervaluation, augmenting potential for a bullish reevaluation amid a favorable earnings revision trend.

Bearish Case: Despite upbeat quarterly results, ITUB faces persistent challenges such as the Brazilian antitrust ruling and high implied volatility indicating potential market uncertainty and investor skepticism towards short-term financial stability.

Potential Outcomes:

1. 70% chance bullish response to ITUB's exceeding Q1 estimates and raised forecasts.

2. 30% chance bearish turn due to regulatory challenges and high volatility impacting investor confidence.

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May 14, 2024

Itau Unibanco Forecast

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