| Institution |
Analyst |
Target Price |
Rating |
Date |
| Banco do Brasil |
Mary Cleia da Silva |
R$68.00 |
Neutral |
May-25 |
| Bank of America |
Caio Ribeiro |
R$91.00 |
Buy |
May-25 |
| Bradesco BBI |
Rafael Barcellos |
R$75.00 |
Outperform |
May-25 |
| BTG Pactual |
Leonardo Correa |
R$73.00 |
Buy |
Jun-25 |
| CICC |
Yan Chen |
R$69.60
|
Buy |
May-25 |
| Citibank |
Stefan Weskott |
R$85.00
|
Buy |
Mar-25 |
| Genial Investimentos |
Igor Guedes |
R$65.50 |
Buy |
May-25 |
| Goldman Sachs |
Marcio Farid |
R$65.00 |
Buy |
Jun-25 |
| HSBC |
Jonathan Brandt |
R$70.00 |
Buy |
Jun-25 |
| Itau BBA |
Daniel Sasson |
R$63.00 |
Outperform |
Jun-25 |
| J.P. Morgan |
Rodolfo Angele |
R$84.00 |
Overweight
|
May-25 |
| Morgan Stanley |
Eugenia Cavalheiro |
R$79.00 |
Overweight |
May-25 |
| Safra |
Ricardo Monegaglia |
R$70.00 |
Outperform |
Jun-25 |
| Santander |
Yuri Pereira |
R$80.00 |
Outperform |
Jun-25 |
| Scotiabank |
Alfonso Salazar |
R$78.00 |
Outperform |
Jan-25 |
| UBS |
Caio Greiner |
R$71.00 |
Buy |
May-25 |
| XP Investimentos |
Lucas Laghi |
R$92.00 |
Buy |
Jan-25 |
| |
|
|
|
|
| Average |
|
R$75.24 |
|
|
| Lowest |
|
R$63.00 |
|
|
| Highest |
|
R$92.00 |
|
|
Source: Bloomberg and Brokers' Researches
Legend of recommendations:
Buy/ Outperform/ Overweight = expectation from an analyst that the
stock will outperform, within the next 12 months, the average return rate of
all stocks this analyst covers
Neutral/ Market perform/ Equal weight = expectation from an analyst
that, within the next 12 months, the stock will perform in line with the
average return rate of all stocks this analyst covers
Sell/ Underperform/ Underweight = expectation from an analyst
that the stock will underperform, within the next 12 months, the average
return rate of all stocks this analyst covers
Analyst Estimates
| (R$ million) |
Net Revenue |
EBITDA |
Net Income |
Date |
| 2025e |
2026e |
2027e |
2025e |
2026e |
2027e |
2025e |
2026e |
2027e |
| Banco do Brasil |
51,778 |
53,324 |
55,346 |
26,260 |
27,524 |
30,927 |
10,224 |
10,697 |
11,527 |
May-25 |
| Bank of America |
55,190 |
58,989 |
60,876 |
25,557 |
27,908 |
28,193 |
13,601 |
9,708 |
11,835 |
May-25 |
| Bradesco |
52,815 |
58,230 |
62,003 |
24,370 |
29,336 |
32,806 |
11,016 |
9,884 |
10,618 |
May-25 |
| BTG Pactual |
53,009 |
56,073 |
53,315 |
25,415 |
28,883 |
26,972 |
12,636 |
10,828 |
9,798 |
Jun-25 |
| CICC |
55,364 |
62,536 |
66,380 |
27,606 |
32,371 |
36,633 |
16,636 |
17,115 |
17,222 |
May-25 |
| Citibank |
54,352 |
59,804 |
62,636 |
28,798 |
32,548 |
30,973 |
9,432 |
15,275 |
11,660 |
May-25 |
| Genial Investimentos |
54,220 |
56,070 |
55,778 |
27,320 |
28,170 |
26,567 |
11,010 |
10,065 |
8,401 |
May-25 |
| Goldman Sachs |
50,477 |
53,167 |
57,208 |
23,494 |
25,832 |
28,584 |
12,589 |
8,932 |
11,344 |
Jun-25 |
| HSBC |
51,488 |
58,444 |
60,385 |
24,100 |
28,926 |
29,382 |
13,637 |
9,247 |
9,859 |
Jun-25 |
| Itau BBA |
48,582 |
54,520 |
59,198 |
21,484 |
24,982 |
27,967 |
10,219 |
8,012 |
9,768 |
Jun-25 |
| JP Morgan |
49,668 |
55,015 |
65,357 |
25,281 |
27,292 |
32,955 |
10,641 |
9,295 |
11,568 |
Jan-25 |
| Morgan Stanley |
54,901 |
59,795 |
63,552 |
25,448 |
29,248 |
32,638 |
7,510 |
8,028 |
12,145 |
May-25 |
| Safra |
51,161 |
57,354 |
60,960 |
22,909 |
28,195 |
30,414 |
10,545 |
7,482 |
9,963 |
Jun-25 |
| Santander |
48,337 |
52,125 |
55,847 |
24,905 |
27,053 |
29,348 |
8,334 |
7,170 |
10,374 |
Jun-25 |
| Scotiabank |
52,666 |
56,044 |
59,316 |
27,692 |
29,985 |
32,796 |
16,372 |
13,484 |
15,169 |
Jan-25 |
| UBS |
50,397 |
58,331 |
58,408 |
23,355 |
30,016 |
30,349 |
6,316 |
13,870 |
13,385 |
May-25 |
| XP Investimentos |
57,404 |
60,946 |
64,218 |
29,978 |
32,323 |
34,300 |
12,970 |
12,883 |
14,635 |
Jan-25 |
| |
|
|
|
|
|
|
|
| Average |
52,165 |
57,454 |
60,046 |
25,182 |
29,016 |
30,694 |
11,176 |
10,273 |
11,722 |
|
| Minimum |
48,470 |
53,167 |
53,315 |
21,484 |
24,982 |
26,567 |
5,872 |
5,387 |
8,401 |
|
| Maximum |
57,404 |
62,878 |
66,380 |
29,978 |
33,126 |
36,633 |
20,771 |
14,465 |
17,222 |
|
Source: Bloomberg and Brokers' Researches