Institution Target Price Recommendation
Bradesco BBI BRL32 Buy
Banco do Brasil BRL28 Buy
HSBC BRL28 Buy
JP Morgan BRL27 Hold
Bank of America - ML BRL26 Hold
Itaú BBA BRL26 Buy
Ativa Investimentos BRL26 Hold
BTG Pactual BRL25 Hold
Eleven Financial BRL24 Hold
Goldman Sachs BRL23 Sell
Safra BRL23 Hold
XP Investimentos BRL23 Hold
Brasil Plural BRL22 Hold
Santander BRL21 Sell
 
Average BRL25
Highest BRL32
Lowest BRL21

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 2,950 3,160 - 2,405 2,530 - 1,257 1,360 -
Goldman Sachs 3,955 3,252 3,386 3,418 2,666 2,773 - - -
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 4,323 3,633 3,248 3,185 1,946 1,558 2,366 1,381 1,132
Merrill Lynch 4,133 4,197 4,473 3,501 3,069 3,334 1,926 1,705 2,028
Safra 3,215 3,630 3,822 2,621 3,018 3,180 1,491 1,687 1,842
Santander  2,674 - - 2,097 - - 1,074 - -
XP Investimentos 2,781 2,817 - 2,237 2,252 - 1,245 1,179 -
Average 3,462 3,368 3,554 2,832 2,617 2,751 1,627 1,475 1,622
Highest 4,323 4,197 4,473 3,501 3,191 3,334 2,366 1,803 2,028
Lowest 2,674 2,694 2,838 2,097 1,946 1,558 950 867 881

Updated on November 25, 2020.