Santander raises target for B3 stock from BRL 19.00 to BRL 30.00

Published on 10/25/2026 at 02:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 net income reached BRL 1.70 billion, up 28.00 percent year over year. The November 12, 2026 results date gives B3 stock a fresh test after BRL 2.77 billion revenue.

Earnings and valuation shift

On October 21, 2026, Santander lifted its target from BRL 19.00 to BRL 30.00.
Second-quarter 2026 revenue was BRL 2.77 billion and net income was BRL 1.70 billion.
Market capitalization was BRL 118.5 billion as of October 23, 2026.

B3, BRB3SAACNOR6, Illustration mit AI erstellt.

B3 stock (ISIN BRB3SAACNOR6) last closed at BRL 23.65 on B3 on October 23, 2026. The latest catalyst is Santander's target increase, which puts the exchange operator's earnings outlook under closer scrutiny.

Target rises on volume outlook

According to Investing.com on October 21, 2026, Santander raised its target for B3 from BRL 19.00 for the end of 2026 to BRL 30.00 for the end of 2027 and changed its recommendation from Neutral to Outperform. The bank's 2027 net income estimate of BRL 8.20 billion stood 31.00 percent above consensus.

The thesis rests on higher trading activity. Santander cited average daily financial volume of BRL 66.00 billion in October and projected adjusted net income of BRL 1.43 billion for the third quarter of 2026, 10.00 percent above the same quarter of 2025. The counter-factor is execution: the bank used a lower daily volume assumption of BRL 35.00 billion for November and December.

Three dated earnings and cash events

On August 13, 2026, Simply Wall St reported second-quarter 2026 revenue of BRL 2.77 billion, up 8.80 percent year over year, and net income of BRL 1.70 billion, up 28.00 percent. On October 7, 2026, the same source listed a BRL 0.32 per-share payment date for shareholder distributions. On October 21, 2026, Santander's revised target became the latest event.

What comes next for earnings?

Forbes Brasil listed B3's next reporting date as November 12, 2026, after the market closes. That date gives investors a direct test of whether the second-quarter revenue growth and higher trading activity are translating into the profit trajectory embedded in Santander's target.

Market value and price context

B3's market capitalization was BRL 118.5 billion as of October 23, 2026, while its 52-week range was BRL 12.41 to BRL 24.28. The last closing price of BRL 23.65 therefore stood BRL 0.63 below the 52-week high, keeping volume, margins and capital returns central to the next results discussion.