Itaú BBA revises targets for Vibra, Ultrapar, and Nubank

Itaú BBA has issued updated investment outlooks for several major Brazilian companies, raising price targets for fuel distributors and maintaining a positive stance on Nubank.

For fuel distributors Vibra and Ultrapar, the bank raised price targets to R$ 45 and R$ 43, respectively, while reiterating buy recommendations. This revision is driven by expectations of stronger margins in the third and fourth quarters, supported by Petrobras returning to imports and Russian fuel export restrictions. The bank projects significant dividend yields for both companies by 2027.

Regarding Nubank, Itaú BBA analysts maintained an 'Outperform' rating with a price target of US$ 20 for its NYSE-listed shares, suggesting a 41% upside. Despite market concerns regarding credit quality, analysts believe the fintech's low-cost model and expansion into middle-income segments in Brazil, alongside growth in Mexico, present a strong long-term investment case.