BTG Pactual stock target cut to 60 reais by Itaú BBA
Published on 11/01/2026 at 01:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSBTG Pactual faces a softer outlook
- Itaú BBA lowered its recommendation as slower activity, higher rates and inflation weighed on its 2027 forecasts.
- BTG Pactual's investor-relations calendar schedules third-quarter results for November 10, 2026.
- Credit growth, asset quality and provisions remain key variables for the upcoming results.
Itaú BBA cut its 2027 price target for BTG Pactual from 70 reais to 60 reais on October 30, 2026, and lowered its recommendation to Market Perform, equivalent to neutral, according to El Fondo.
A more cautious earnings outlook
Itaú BBA reduced its 2027 revenue forecast for BTG Pactual by 4.5 percent to 49 billion reais and cut its net-income estimate by 5 percent to 23.2 billion reais. The broker cited weaker economic activity, lower confidence and interest rates and inflation remaining elevated for longer.
Forecast revenue declines were broad-based. Itaú BBA reduced its investment-banking projection by 12 percent, its wealth-management projection by 8 percent and its markets projection by 7 percent.
Credit and results in focus
Corporate lending and consumer finance are expected to account for close to 38 percent of BTG Pactual's 2027 revenue in the broker's model. The forecast for corporate-credit growth was lowered from 20 percent in 2026 to 13 percent in 2027, while consumer-finance growth was reduced from 35 percent to 19 percent.
Credit quality and provisions remain important swing factors for the bank. BTG Pactual's investor-relations calendar lists the disclosure of third-quarter 2026 results for November 10, 2026.
BTG Pactual at a glance
- Company: Banco BTG Pactual S.A.
- Research date: October 30, 2026
- Broker: Itaú BBA
- Recommendation: Market Perform, equivalent to neutral
- 2027 revenue forecast: 49 billion reais
- 2027 net-income forecast: 23.2 billion reais
