Itaú Unibanco Holding SA (NYSE:ITUB)

CAPS Rating: 3 out of 5


Player Avatar dudemonkey (37.84) Submitted: 4/3/2009 3:44:12 PM : Outperform Start Price: $9.07 ITUB Score: -134.09

Banco Itau is now the largest bank in Latin America with the recent purchase of Unibanco. The Brazilian banking industry is flush with technical talent that equals the technical competence of US banks, Itau was not caught up in the derivatives quagmire, it was not highly leveraged, and business is recovering rapidly in Brazil. The exchange rate is currently favorable for US buyers but there is no way that can possibly continue, so even if this stock stagnates in Brazil the ADRs should appreciate as the US prints money.

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