Institution Target Price Recommendation
Bradesco BBI BRL32 Buy
Morgan Stanley BRL31 Buy
Ativa Investimentos BRL31 Hold
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
Goldman Sachs BRL26 Sell
Safra BRL26 Hold
BTG Pactual BRL25 Hold
XP Investimentos BRL25 Hold
Brasil Plural BRL22 Hold
 
Average BRL28
Highest BRL32
Lowest BRL22

Regulatory Results

Institution
(BRLmillion)
Net Revenue EBITDA Net Income
2020e 2021e 2022e 2020e 2021e 2022e 2020e 2021e 2022e
Banco do Brasil 3,716 3,203 3,160 3,161 2,624 2,535 1,852 1,602 1,501
Bradesco BBI 3,731 3,324 3,514 3,208 2,775 2,943 1,988 1,622 1,928
Brasil Plural 3,287 3,602 3,757 2,694 3,113 3,308 1,324 1,499 1,608
BTG Pactual 3,739 3,322 3,690 2,803 2,123 2,418 2,034 1,703 1,992
Citi 2,674 2,694 2,838 2,098 2,096 2,211 950 867 881
Eleven Financial 3,046 3,230 3,430 2,556 2,670 2,870 1,521 1,459 1,620
Goldman Sachs 3,899 3,563 3,700 3,362 2,977 3,088 2,007 1,862 2,013
HSBC 3,589 3,811 3,821 3,028 3,191 3,181 1,741 1,803 1,853
Itaú BBA 3,701 3,142 3,381 3,191 2,619 2,816 1,905 1,290 1,459
JP Morgan 3,918 4,010 4,363 3,507 3,410 3,721 2,191 2,106 2,227
Merrill Lynch 3,909 3,622 3,909 3,501 3,069 3,334 1,991 1,749 2,090
Morgan Stanley 3,868 3,568 3,850 3,345 3,035 3,277 2,044 1,762 1,985
Safra 3,215 3,611 3,853 2,621 3,048 3,258 1,491 1,710 1,873
Santander  2,674 - - 2,097 - - 1,074 - -
XP Investimentos 2,781 2,817 - 2,237 2,252 - 1,245 1,179 -
Average 3,403 3,276 3,502 2,977 2,790 2,998 1,751 1,589 1,771
Highest 3,918 4,010 3,363 3,507 3,410 3,721 2,191 2,106 2,227
Lowest 1,979 1,624 1,764 2,098 2,096 2,211 950 867 881

Updated on May 10, 2021.