| INSTITUTION |
ANALYSTS |
RECOMENDATION |
| Itaú IBBA |
Vinicius Figueiredo |
Buy |
| BofA |
Flavio Yoshida |
Buy |
| XP |
Gustavo Tiseo |
Buy |
| BTG |
Samuel Alves |
Neutral |
| JP Morgan |
Joseph Giordano |
Neutral |
| Morgan Stanley |
Mauricio Cepeda |
Neutral |
| UBS |
Leonardo Olmos |
Neutral |
| Citi |
Leandro Bastos |
Neutral |
| Jefferies |
Antonio Cardoso |
Neutral |
| Safra |
Vitor Pini |
Neutral |
| Bradesco BBI |
Marcio Osako |
Neutral |
| Goldman Sachs |
Gustavo Miele |
Sell |
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