Institution Target Price Recommendation
Bradesco BBI BRL32 Buy
Ativa Investimentos BRL31 Hold
Morgan Stanley BRL30 Buy
Eleven Financial BRL30 Hold
JP Morgan BRL30 Hold
Banco do Brasil BRL29 Buy
Bank of America - ML BRL29 Hold
HSBC BRL28 Hold
Santander BRL28 Sell
Inter BRL27 Hold
Itaú BBA BRL26 Buy
Safra BRL26 Hold
Goldman Sachs BRL25 Sell
BTG Pactual BRL25 Hold
XP Investimentos BRL25 Hold
Genial Investimentos BRL22 Hold
 
Average BRL28
Highest BRL32
Lowest BRL22

Regulatory Results

Institution
(BRLmillion)
Net Revenue EBITDA Net Income
2021e 2022e 2023e 2021e 2022e 2023e 2021e 2022e 2023e
Banco do Brasil 3,203 3,160 3,101 2,624 2,535 2,443 1,602 1,501 1,427
Bradesco BBI 3,324 3,514   2,775 2,943   1,622 1,928  
Brasil Plural 3,602 3,757   3,113 3,308   1,499 1,608  
BTG Pactual 3,219 3,227 3,292 2,041 2,050 2,100 1,419 1,562 1,695
Citi 2,694 2,838   2,096 2,211   867 881  
Eleven Financial 3,230 3,430   2,670 2,870   1,459 1,620  
Goldman Sachs 3,124 2,893 3,394 2,527 2,272 2,742 1,369 1,417 1,819
HSBC 3,990 4,076   3,353 3,414   1,782 1,764  
Inter 3,440     2,681     1,490    
Itaú BBA 3,142 3,381   2,619 2,816   1,290 1,459  
JP Morgan 4,010 4,363 4,119 3,410 3,721 3,432 2,106 2,227 1,988
BofA Merrill Lynch 3,728 4,091 4,039 3,112 3,369 3,371 1,611 1,964 2,041
Morgan Stanley 3,466 3,229 3,813 2,891 2,644 3,161 1,438 1,340 1,660
Safra 3,630 3,822   3,018 3,180   1,687 1,842  
Santander  1,624 1,764   2,846 3,015   1,624 1,764  
XP Investimentos 2,817     2,252     1,179    
Average 3,293 3,454 3,666 2,780 2,940 2,916 1,534 1,677 1,801
Highest 4,010 4,363 4,119 3,410 3,721 3,432 2,106 2,227 2,041
Lowest 1,624 1,764 3,101 2,041 2,050 2,100 867 881 1,427

Updated on July 19, 2021.