| 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$104.00 |
Buy |
Dec-24 |
| Bradesco BBI |
Rafael Barcellos |
R$78.00 |
Outperform |
Oct-24 |
| BTG Pactual |
Leonardo Correa |
R$81.00 |
Buy |
Dec-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 |
Dec-24 |
| HSBC |
Jonathan Brandt |
R$80.00 |
Buy |
Dec-24 |
| Itau BBA |
Daniel Sasson |
R$82.00 |
Outperform |
Dec-24 |
| J.P. Morgan |
Rodolfo Angele |
R$81.50 |
Overweight
|
Nov-24 |
| Morgan Stanley |
Eugenia Cavalheiro |
R$83.00 |
Overweight |
Dec-24 |
| Safra |
Ricardo Monegaglia |
R$80.00 |
Outperform |
Oct-24 |
| Santander |
Yuri Pereira |
R$80.00 |
Outperform |
Dec-24 |
| Scotiabank |
Alfonso Salazar |
R$66.00 |
Outperform |
Sep-24 |
| XP Investimentos |
Lucas Laghi |
R$85.00 |
Buy |
Oct-24 |
| |
|
|
|
|
| Average |
|
R$76.69 |
|
|
| Lowest |
|
R$54.60 |
|
|
| Highest |
|
R$104.00 |
|
|
Source: Bloomberg and Brokers' Researches
Legend of recommendations:
Buy/ Outperform/ Overweight = expectation from an analyst that the
stock will outperform, within the next 12 months, the average return rate of
all stocks this analyst covers
Neutral/ Market perform/ Equal weight = expectation from an analyst
that, within the next 12 months, the stock will perform in line with the
average return rate of all stocks this analyst covers
Sell/ Underperform/ Underweight = expectation from an analyst
that the stock will underperform, within the next 12 months, the average
return rate of all stocks this analyst covers
Analyst Estimates
| (R$ 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 |
45,174 |
50,753 |
54,359 |
22,686 |
26,791 |
28,798 |
(1,304) |
11,192 |
10,486 |
Dec-24 |
| Bradesco |
46,271 |
50,723 |
51,629 |
23,641 |
26,242 |
26,362 |
5,548 |
14,357 |
9,033 |
Oct-24 |
| BTG Pactual |
44,680 |
53,472 |
58,203 |
23,239 |
28,931 |
33,747 |
(2,879) |
9,434 |
15,595 |
Dec-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 |
46,375 |
49,320 |
55,276 |
24,198 |
25,154 |
29,774 |
(1,719) |
7,790 |
10,568 |
Dec-24 |
| HSBC |
45,180 |
53,750 |
59,417 |
23,092 |
27,809 |
31,357 |
(410) |
10,507 |
11,430 |
Dec-24 |
| Itaú BBA |
45,426 |
50,785 |
54,809 |
23,555 |
25,557 |
28,249 |
2,139 |
10,128 |
9,988 |
Dec-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 |
44,554 |
50,224 |
52,863 |
22,505 |
24,839 |
27,177 |
(1,980) |
7,694 |
8,848 |
Dec-24 |
| Safra |
44,605 |
51,603 |
54,817 |
22,475 |
26,325 |
29,266 |
2,081 |
8,212 |
10,936 |
Oct-24 |
| Santander |
44,432 |
48,337 |
49,241 |
22,921 |
24,905 |
24,179 |
4,458 |
8,334 |
6,537 |
Dec-24 |
| Scotiabank |
42,890 |
47,346 |
54,292 |
21,245 |
22,744 |
29,082 |
2,893 |
6,771 |
10,176 |
Sep-24 |
| XP Investimentos |
43,501 |
53,040 |
55,723 |
22,450 |
27,046 |
28,704 |
2,996 |
12,868 |
14,342 |
Oct-24 |
| |
|
|
|
|
|
|
|
|
|
|
| Average |
43,831 |
50,441 |
54,021 |
22,512 |
25,426 |
28,279 |
2,262 |
9,719 |
10,919 |
|
| Minimum |
31,703 |
45,758 |
49,241 |
19,113 |
21,446 |
24,179 |
(2,879) |
6,771 |
6,537 |
|
| Maximum |
46,590 |
53,750 |
59,417 |
24,198 |
28,931 |
33,747 |
8,953 |
14,357 |
15,821 |
|
Source: Bloomberg and Brokers' Researches