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Bullish Case: Increased Q3 earnings, very low P/B ratio (0.2), and recent capital management report suggest strong financial health and potential for growth.


Bearish Case: A recent antitrust ruling, along with mean reversion in stock price and tepid AI forecast, point towards regulatory challenges and lackluster performance.


Potential Outcomes:

1) Further gain due to sound earnings (20%).

2) Mild uptrend with P/B revaluation (30%).

3) Stagnation amid regulatory woes (50%).


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April 11, 2024


Itau Unibanco Forecast

ITUB        Itau Unibanco
Price Forecast: NEUTRAL    Price Action: MEAN REVERTING (?)











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