Goldman Sachs keeps BRL 19.50 target for Banco do Brasil stock

Published on 10/20/2026 at 19:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Results are due November 11, 2026 after Q2 profit of BRL 2.40 billion. Banco do Brasil stock costs EUR 4.34 on October 20, 2026 after hours.

Analyst view and reporting date

Goldman Sachs maintained a Sell rating and a BRL 19.50 target on October 9, 2026.
Banco do Brasil reported BRL 88.67 billion in Q2 2026 revenue and BRL 2.40 billion in net profit.
Banco do Brasil stock was trading at EUR 4.34 at Lang & Schwarz on October 20, 2026 at 7:12 p.m. CEST.

Banco do Brasil, US0595781040, Illustration mit AI erstellt.

Banco do Brasil (ISIN US0595781040) is heading into its November results with Goldman Sachs holding a Sell rating and a BRL 19.50 price target. Markets Insider reported the analyst view on October 9, 2026, while Banco do Brasil stock was trading at EUR 4.34 at Lang & Schwarz on October 20, 2026 at 7:12 p.m. CEST.

Goldman Sachs keeps a cautious view

Goldman Sachs analyst Tito Labarta maintained the Sell rating and BRL 19.50 target for Banco do Brasil in the report covered by Markets Insider. The target is 19.62 percent below the B3 quote of BRL 24.26 on October 20, 2026 at 2:06 p.m. BRT. That gap puts the analyst view below the latest local-market price.

What does the target imply?

The valuation debate is tied to earnings resilience. For the second quarter of 2026, Banco do Brasil reported revenue of BRL 88.67 billion and net profit of BRL 2.40 billion, compared with BRL 88.01 billion in revenue and BRL 2.78 billion in profit a year earlier, according to Markets Insider. Revenue increased 0.75 percent, while profit fell 13.67 percent on that comparison.

November results set the next date

Banco do Brasil's investor-relations calendar lists November 11, 2026 for its quarterly report relating to the third quarter. The date is also included in the Brazilian earnings schedule published by InfoMoney. The upcoming release will give investors a new read on credit quality, margins and the path toward the analyst target.

Banco do Brasil versus banking peers

On the B3 market, Banco do Brasil stood at BRL 24.26, up 1.29 percent, with a P/E ratio of 11.30 and market capitalization of BRL 138.5 billion on October 20, 2026. Itaú Unibanco (B3, BRL) stood at BRL 53.12, up 2.53 percent, with a P/E ratio of 13.12 and market capitalization of BRL 585.5 billion. Banco Bradesco (B3, BRL) stood at BRL 20.77, up 3.33 percent, with a P/E ratio of 8.08 and market capitalization of BRL 205.9 billion.

Euro quote stays the market frame

The euro quote places the ADR-linked security at EUR 4.34 in after-hours trading at Lang & Schwarz on October 20, 2026 at 7:12 p.m. CEST. The latest B3 quotation was BRL 24.26 at 2:06 p.m. BRT on the same date, so the two figures belong to separate venues and currencies.

The further course of trading is shown by the continuously updated real-time quote of Banco do Brasil stock.