ITUB4: Upcoming Governance Changes And Guidance Day Will Support Balanced Outlook

Analysts have modestly raised their price target on Itaú Unibanco Holding to reflect a slightly higher fair value of R$43.55 from R$42.93, supported by incremental improvements in forecast revenue growth and valuation multiples, despite broadly stable profit margins and discount rates.

What's in the News

• The scheduled Analyst and Investor Day will provide updated strategic and financial guidance, giving investors clearer visibility into medium term growth plans (company event)
• The board meeting on November 4, 2025 will review financial statements for January to September 2025, which may signal adjustments to guidance or capital allocation (company filing)
• The board meeting on October 30, 2025 will address the removal and election of company officers, indicating possible changes in senior management and the governance structure (company filing)

Valuation Changes

• Fair value has risen slightly to R$43.55 from R$42.93, reflecting a modest uplift in the bank's estimated equity valuation.
• The discount rate has fallen slightly to 21.74 percent from 21.98 percent, indicating a marginally lower perceived risk or cost of equity in the updated model.
• Revenue growth has increased slightly to 17.30 percent from 17.23 percent, suggesting a small upward revision to medium-term topline expansion expectations.
• The net profit margin has edged down marginally to 24.94 percent from 24.95 percent, indicating broadly stable profitability assumptions despite a minor downward tweak.
• The future P/E has risen slightly to 15.41x from 15.30x, implying a small re-rating of Itaú Unibanco Holding's earnings multiple in the valuation framework.