Tupy receives buy rating from Itaú BBA amid expected turnaround

Itaú BBA has upgraded its recommendation for Tupy (TUPY3) from neutral to buy, raising the price target from R$ 13 to R$ 20 for the end of 2026. Analysts anticipate an operational turnaround by the second half of 2026, driven by recovering demand and internal efficiency gains.

The bank expects these improvements to strengthen profitability and boost revenue and margins. For 2027, Itaú BBA projects a 7% revenue growth and an EBITDA margin of 10.4%. Additionally, recent advancements in corporate governance are expected to increase business resilience and reduce industry-typical volatility.