Analyst Coverage

Average Target Price – R$ 4.08

Institution	Name of Analyst	Target Price	Last Review
Banco do Brasil	Andrea Aznar +55 (11) 4298 7154	R$ 3.80 Sell	10/17/2025
Bank of America Merrill Lynch	Robert Ford +1 (203) 554 9790	R$ 2,50 Sell	05/15/2025
Bradesco BBI	Pedro Pinto +55 (11) 98860 0652	R$ 9.00 Neutral	02/21/2024
BTG Pactual	Luiz Guanais +55 (11) 3383 2755	R$ 3.00 Neutral	04/15/2025
Genial Institucional	Iago Souza +55 (11) 3206 8244	R$ 4.50 Neutral	09/10/2025
Goldman Sachs	Irma Sgarz +1 (212) 357 3770	R$ 3.10 Sell	03/13/2025
Morgan Stanley	Andrew Ruben +1 (646) 734 7157	R$ 3.00 Sell	04/22/2024
Safra	Vitor Pini +55 (11) 3175 1194	R$ 4.00 Neutral	10/15/2025
Santander	Ruben Couto +55 (11) 3553 7959	R$ 3.90 Neutral	12/17/2024
XP Investimentos	Danniela Eiger +55 (11) 3513 6520	R$ 4.00 Neutral	02/13/2025