| Institution |
Analyst |
Target Price |
Rating |
Date |
| Banco do Brasil |
Mary Cleia da Silva |
R$68.00 |
Neutral |
Aug-24 |
| Bank of America |
Caio Ribeiro |
R$89.00 |
Buy |
Sep-24 |
| Bradesco BBI |
Rafael Barcellos |
R$73.00 |
Outperform |
Jun-24 |
| BTG Pactual |
Leonardo Correa |
R$81.00 |
Buy |
Sep-24 |
| CICC |
Yan Chen |
R$54.60
|
Outperform |
Aug-24 |
| Citibank |
Stefan Weskott |
R$70.00
|
Buy |
Jul-24 |
| Genial Investimentos |
Igor Guedes |
R$72.00 |
Buy |
Jun-24 |
| Goldman Sachs |
Marcio Farid |
R$62.00 |
Neutral |
Aug-24 |
| HSBC |
Jonathan Brandt |
R$60.00 |
Hold |
Aug-24 |
| Itau BBA |
Daniel Sasson |
R$67.00 |
Outperform |
Jun-24 |
| J.P. Morgan |
Rodolfo Angele |
R$76.50 |
Overweight
|
Apr-24 |
| Morgan Stanley |
Eugenia Cavalheiro |
R$66.00 |
Equal-weight |
Jul-24 |
| Safra |
Ricardo Monegaglia |
R$70.00 |
Outperform |
May-24 |
| Santander |
Yuri Pereira |
R$75.00 |
Outperform |
Jun-24 |
| Scotiabank |
Alfonso Salazar |
R$66.00 |
Outperform |
Sep-24 |
| XP Investimentos |
André Vidal |
R$73.00 |
Buy |
Nov-23 |
| |
|
|
|
|
| Average |
|
R$70.19 |
|
|
| Lowest |
|
R$54.60 |
|
|
| Highest |
|
R$89.00 |
|
|
Source: Bloomberg and Brokers' Researches
Legend of recommendations:
Buy/ Outperform/ Overweight = expectation from an analyst that the
stock will outperform, within the next 12 months, the average return rate of
all stocks this analyst covers
Neutral/ Market perform/ Equal weight = expectation from an analyst
that, within the next 12 months, the stock will perform in line with the
average return rate of all stocks this analyst covers
Sell/ Underperform/ Underweight = expectation from an analyst
that the stock will underperform, within the next 12 months, the average
return rate of all stocks this analyst covers
Analyst Estimates
| (R$ million) |
Net Revenue |
EBITDA |
Net Income |
Date |
| 2024e |
2025e |
2026e |
2024e |
2025e |
2026e |
2024e |
2025e |
2026e |
| Banco do Brasil |
46,590 |
51,778 |
53,324 |
23,164 |
26,260 |
27,524 |
1,814 |
10,224 |
10,697 |
Aug-24 |
| Bank of America |
46,012 |
49,098 |
53,119 |
23,445 |
25,094 |
27,473 |
8,901 |
8,475 |
12,085 |
Aug-24 |
| Bradesco |
48,767 |
50,755 |
49,709 |
25,157 |
25,999 |
25,210 |
8,509 |
15,086 |
6,839 |
Jun-24 |
| BTG Pactual |
46,351 |
47,994 |
53,736 |
24,229 |
24,021 |
29,144 |
5,095 |
10,536 |
12,622 |
Sep-24 |
| CICC |
42,578 |
49,435 |
52,081 |
22,230 |
23,951 |
29,976 |
5,869 |
9,802 |
15,821 |
Aug-24 |
| Citibank |
45,576 |
49,829 |
53,175 |
22,547 |
24,409 |
26,365 |
4,027 |
11,829 |
10,945 |
Jul-24 |
| Genial Investimentos |
31,703 |
50,900 |
53,772 |
21,125 |
24,413 |
26,664 |
8,953 |
8,494 |
9,518 |
Jun-24 |
| Goldman Sachs |
48,519 |
52,600 |
55,143 |
26,114 |
28,146 |
30,026 |
4,489 |
12,001 |
12,366 |
Aug-24 |
| HSBC |
46,629 |
50,109 |
53,401 |
24,264 |
25,107 |
26,892 |
4,904 |
9,305 |
9,126 |
Aug-24 |
| Itaú BBA |
47,882 |
49,498 |
52,652 |
24,637 |
24,050 |
25,701 |
8,997 |
7,181 |
8,593 |
Jun-24 |
| JP Morgan |
41,764 |
45,758 |
51,356 |
19,113 |
21,446 |
25,245 |
3,609 |
7,869 |
9,787 |
Mar-24 |
| Morgan Stanley |
46,859 |
48,662 |
52,039 |
23,252 |
22,556 |
25,978 |
2,272 |
5,724 |
9,093 |
Jul-24 |
| Safra |
43,628 |
48,742 |
51,482 |
21,744 |
24,252 |
26,715 |
7,716 |
8,789 |
11,171 |
May-24 |
| Santander |
43,693 |
45,053 |
49,241 |
22,652 |
22,068 |
24,179 |
8,465 |
5,868 |
6,537 |
Jun-24 |
| Scotiabank |
42,890 |
47,346 |
54,292 |
21,245 |
22,744 |
29,082 |
2,893 |
6,771 |
10,176 |
Sep-24 |
| XP Investimentos |
40,871 |
46,220 |
- |
19,319 |
22,245 |
- |
10,924 |
8,304 |
- |
Nov-23 |
| |
|
|
|
|
|
|
|
|
|
|
| Average |
44,394 |
46,986 |
52,568 |
22,765 |
24,173 |
27,078 |
6,095 |
9,141 |
10,358 |
|
| Minimum |
31,703 |
45,053 |
49,241 |
19,113 |
21,446 |
24,179 |
1,814 |
5,724 |
6,537 |
|
| Maximum |
48,767 |
52,600 |
55,143 |
26,114 |
28,146 |
30,026 |
10,924 |
15,086 |
15,821 |
|
Source: Bloomberg and Brokers' Researches