| Institution | Analyst | Update in | Net Revenue FY 2025 | Adjusted EBITDA FY 2025 | Price Objective | Ratings | |
| Goldman Sachs | Gustavo Miele | [email protected] | Nov - 2025 | 3,724 | 1,705 | 16.00 | Sell |
| BTG Pactual | Samuel Alves | [email protected] | Nov - 2025 | 3,698 | 1,666 | 20.00 | Buy |
| UBS BB | André Salles | [email protected] | Nov - 2025 | 3,696 | 1,687 | 19.00 | Buy |
| Citibank | Leandro Bastos | [email protected] | OCt - 2025 | 3,710 | 1,679 | 16.00 | Neutral |
| Bradesco BBI | Marcio Osako | [email protected] | OCt - 2025 | 3,715 | 1,684 | 16.00 | Sell |
| Bank of America Merrill Lynch | Flavio Yoshida | [email protected] | Sept - 2025 | 3,697 | 1,691 | 25.50 | Buy |
| J.P. Morgan | Marcelo Santos | [email protected] | Sept - 2025 | 3,704 | 1,669 | 24.50 | Buy |
| Itaú BBA | Vinicius Figueiredo | [email protected] | Sept - 2025 | 3,753 | 1,671 | 18.00 | Buy |
| Morgan Stanley | Maurício Cepeda | [email protected] | Aug - 2025 | 3,712 | 1,700 | 17.50 | Neutral |
| Average | 3,712 | 1,684 | 19.17 |
