| Institution | Analyst | Contact | Recomendation | Target Price | Last Revision |
|---|---|---|---|---|---|
| XP Investimentos | Raul Cavendish | raul.cavendish@xpi.com.br | Buy | R$ 58.80 | 04/21/2026 |
| Bradesco | Francisco Navarrete | francisco.navarrete@bradescobbi.com.br | Outperform | R$ 54.00 | 04/15/2026 |
| UBS | Giuliano Ajeje | giuliano.ajeje@ubs.com | Buy | R$ 53.00 | 12/05/2026 |
| Safra | Carolina Carneiro | carolina.carneiro@safra.com.br | Outperform | R$ 52.70 | 05/14/2026 |
| BTG Pactual | Antonio Junqueira | antonio.junqueira@btgpactual.com | Buy | R$ 52.00 | 01/06/2026 |
| JP Morgan | Arthur Pereira | arthur.pereira@jpmorgan.com | Overweight | R$ 51.00 | 05/13/2026 |
| Santander | André Sampaio | ansampaio@santander.com.br | Outperform | R$ 49.56 | 01/27/2026 |
| Citibank | João Pimentel | joao.pimentel@citi.com | Buy | R$ 49.00 | 03/12/2026 |
| Itaú | Fillipe Andrade | fillipe.andrade@itaubba.com | Outperform | R$ 48.70 | 09/03/2025 |
| Goldman Sachs | Bruno Amorim | bruno.amorim@gs.com | Buy | R$ 47.00 | 05/14/2026 |
| Scotiabank | Renato Pinto | renato.pinto@scotiabank.com | Outperform | R$ 46.00 | 01/28/2026 |
| HSBC | Lilyanna Yang | lilyanna.yang@us.hsbc.com | Buy | R$ 45.00 | 12/17/2025 |
| Morgan Stanley | Fernando Amaral | Fernando.Amaral@morganstanley.com | Overweight | R$ 45.00 | 03/10/2026 |
| BofA Merrill Lynch | Gustavo Faria | gustavo.faria@bofa.com | Buy | R$ 44.00 | 08/14/2025 |
| Average | R$ 49.27 | ||||
| Minimal | R$ 44.00 | ||||
| Maximum | R$ 58.80 |
Equatorial is covered by the analyst(s) listed above. Please note that any opinions, estimates or forecasts regarding Equatorial´s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Equatorial or its management. Equatorial does not, by its reference above or distribution, imply its endorsement of or concurrence with such information, conclusions or recommendations. Equatorial does not warrant that the above list of analysts is complete nor updated, and the information herein provided are subject to the authorization of the analysts.