'Bolsonaro Leads Lula in Brazil Runoff After First Round Surprise' - Bloomberg
https://www.bloomberg.com/news/articles/2026-10-09/bolsonaro-leads-lula-in-brazil-runoff-after-first-round-surprise
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Goldman Sachs analyst Tito Labarta maintains Itau Unibanco Holding (NYSE:ITUB) with a Buy and raises the price target from $9.3 to $10.5.
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https://www.bloomberg.com/news/articles/2026-10-09/bolsonaro-leads-lula-in-brazil-runoff-after-first-round-surprise
HSBC analyst Carlos Gomez-Lopez downgrades Itau Unibanco Holding (NYSE:ITUB) from Buy to Hold and announces $9.1 price target.
Itaú Unibanco (ITUB) fell 4.04% to $9.74 on October 7, 2026, as investors took profits after the stock reached a five-year high following Brazil's presidential election. The decline occurred despite a rally triggered by conservative candidate Flávio Bolsonaro's stronger-than-expected performance in the first round of voting, which boosted expectations for Brazilian bank earnings. A runoff election will determine the final outcome, creating uncertainty that prompted investors to lock in gains.