ITUB - Can A New Growth Cycle In Brazil Spark Growth For Itau Unibanco?
It has been an up-and-down year for Brazil’s economy and investor sentiment, so it’s no great surprise that the shares of Itau Unibanco (ITUB) have likewise bounced around. Although the ADRs haven’t really gone anywhere fast when compared to the price twelve months ago, they are up about 30% from my last update on the company on renewed optimism over Brazil’s economy and perhaps some recognition of Itau’s excellent capital and market position.
As far as the potential returns from here, though, I’m not as bullish as I was mid-year. I’m expecting double-digit