Analyst Coverage

Institution	Analyst	Target Price	Rating	Date
Bank Of America Merrill Lynch	Murilo Freiberger	R$ 15.00	Buy	may-21
BB Investimentos	Renato Hallgren	R$ 19.00	Buy	apr-21
Bradesco BBI	Victor Mizusaki	R$ 15.00	Buy	dec-21
BTG Pactual	Lucas Marquiori	R$ 17.00	Buy	nov-21
Citigroup	Stephen Trent	R$ 10.70	Neutral	oct-21
Credit Suisse	Regis Cardoso	R$ 10.00	Buy	jan-22
Goldman Sachs	Bruno Amorim	R$ 9.30	Sell	dec-21
HSBC	–	R$ 20.30	Buy	jul-20
Itaú BBA	Thais Cascello	R$ 15.60	Buy	oct-21
JP Morgan	Fernando Abdalla	R$ 10.50	Neutral	nov-21
Morgan Stanley	Josh Milberg	R$ 13.00	Buy	nov-21
Safra	Luiz Peçanha	R$ 20.30	Buy	oct-21
Santander	Lucas Barbosa	R$ 11.50	Buy	dec-21
UBS	Rogerio Araujo	R$ 12.50	Buy	dec-21
XP Investimentos	Pedro Bruno	R$ 12.40	Neutral	jun-21
Average		R$ 14.14
Lowest		R$ 9.30
Highest		R$ 20.30