Santander Brasil gains as UBS analysts say 'time to buy'

Banco Santander Brasil SA

11/06/2025 16:40

** Shares in lender Santander Brasil SANB11.SA rise after analysts at UBS upgraded their recommendation on the stock to "Buy" from "Neutral"

** UBS says the move comes as they forecast higher profitability for the bank going forward while also seeing a discounted valuation

** "Our upgrade reflect improved profitability and efficiency gains ahead," the analysts add in a note to clients

** They raise their target price for shares in the lender to 38 reais from 30 reais

** Santander Brasil's shares are up 4% in the session, making it the biggest gainer on benchmark stock index Bovespa .BVSP, which slips 0.8%

** Year-to-date, Santander Brasil gains around 29%

 (Reporting by Gabriel Araujo)

 ((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))