• Return to Headlines

Downgrade Alert for Itau Unibanco Holding SA (ITUB)

By Shiri Gupta

Itau Unibanco Holding SA (NYSE:ITUB) was downgraded from Buy to Hold at HSBC today. The stock closed yesterday at $8.30 on volume of 11.2 million shares, below average daily volume of 20.5 million.

Over the past year, Itau Unibanco Holding SA has traded in a range of $5.48 to $12.93 and closed yesterday at $8.30, 51% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 2.4%.

Potential upside of 1.3% exists for Itau Unibanco Holding SA, based on a current level of $8.30 and analysts' average consensus price target of $8.41. Itau Unibanco Holding SA shares should encounter resistance at the 50-day moving average (MA) of $8.55 and support at its 200-day MA of $7.42.

Itau Unibanco Holding SA attracts deposits and offer retail, commercial, corporate, and private banking services. The Bank offers consumer loans, financial management, insurance, pension plans, treasury services, mortgage loans, lease financing, securities brokerage, and foreign exchange services.

SmarTrend is tracking the current trend status for Itau Unibanco Holding SA and will alert subscribers who have ITUB in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Itau Unibanco Holding SA

Ticker(s): ITUB