Institution Target Price Recommendation Base Date
Banco do Brasil R$ 73,00 Hold Aug-18
Bank of America - ML R$ 75,00 Hold Aug-18
Bradesco BBI R$ 82,00 Hold Jul-18
Brasil Plural R$ 77,60 Buy Jun-18
BTG Pactual R$ 71,00 Buy Aug-18
Citi R$ 71,20 Hold Aug-18
Eleven Financial R$ 84,00 Buy Aug-18
Goldman Sachs R$ 81,00 Buy Aug-18
HSBC R$ 75,00 Buy Aug-18
Itaú BBA R$ 77,00 Buy Aug-18
JP Morgan R$ 71,00 Hold Aug-18
Safra R$ 69,40 Hold Aug-18
Santander R$ 72,17 Buy Aug-18
UBS R$ 72,00 Buy Aug-18
XP Investimentos R$ 75,00 Hold Aug-18
 
Average R$ 75,09
Highest R$ 84,00
Lowest R$ 69,40

Regulatory Results

Institution
(million)
Net Revenue EBITDA Net Income Net Debt Base Date
2018e 2019e 2020e 2018e 2019e 2020e 2018e 2019e 2020e 2018e 2019e 2020e  
Banco do Brasil 2.275 2.414 2.560 1.703 1.814 1.935 985 1.049 1.077 1.505 1.683 2.497 Aug-18
BofA Merrill Lynch 2.467 2.550 2.627 1.809 1.843 1.899 1.188 1.240 1.265 800 950 1.109 Aug-18
Bradesco 3.057 3.011 2.967 2.463 2.391 2.319 1.458 1.390 1.308 2.740 2.885 3.274 Jul-18
Brasil Plural 2.478 2.564 2.657 2.137 2.183 2.234 1.253 1.228 1.217 1.622 2.143 2.598 Jun-18
BTG Pactual 2.667 2.533 2.639 2.137 2.031 2.115 1.212 1.085 1.133 38 888 1.670 Aug-18
Citi 4.058 4.730 5.255 3.140 3.444 3.619 2.079 2.309 2.433 868 640 679 Aug-18
Eleven Financial 2.435 2.514 2.624 1.879 1.947 1.815 1.119 1.197 1.073 1.061 1.442 1.938 Aug-18
Goldman Sachs 2.029 2.097 2.168 1.384 1.425 1.467 1.298 1.585 1.681 1.219 2.106 2.785 Aug-18
HSBC 2.828 2.785 2.786 2.249 2.182 2.158 1.063 1.044 1.046 1.267 1.206 931 Aug-18
Itaú BBA 1.644 1.617 1.804 1.342 1.327 1.480 309 272 307 2.891 3.539 4.385 Aug-18
JP Morgan 2.250 2.402 2.473 1.830 1.964 2.017 NA NA NA 453 1.607 1.853 Aug-18
Safra 2.469 2.572 2.668 1.928 2.009 2.083 1.167 1.203 1.214 1.225 1.827 2.776 Aug-18
Santander 2.680 2.642 2.674 2.153 2.085 2.097 1.014 1.014 1.074 627 589 530 Aug-18
UBS 2.615 2.647 2.644 2.095 2.105 2.081 982 928 856 1.123 1.611 2.550 Aug-18
XP Investimentos 2.729 2.730 2.707 2.272 2.236 2.194 1.253 1.231 1.159 341 531 1.204 Aug-18
Average 2.579 2.654 2.750 2.035 2.066 2.101 1.170 1.198 1.203 1.185 1.576 2.052
Highest 4.058 4.730 5.255 3.140 3.444 3.619 2.079 2.309 2.433 2.891 3.539 4.385
Lowest 1.644 1.617 1.804 1.342 1.327 1.467 309 272 307 38 531 530

Updated on September 10, 2018.