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Analyst Coverage

INSTITUTION ANALYST Target Price1 Recommendation
Alkin Research Anderson Meneses N/A N/A
Ativa Investimentos Ilan Arbetman 37.40 BUY
Banco do Brasil Mary Silva 28.0 HOLD
Banco Inter Gabriela Cortez 40.0 BUY
Bank of America George L. Staphos 30.0 BUY
Bradesco BBI Thiago Lofiego 40.0 BUY
BTG Pactual Leonardo Correa 39.0 BUY
Eleven Research Diana Stuhlberger N/A N/A
Goldman Sachs Marcio Farid 30.0 HOLD
HSBC Jonathan Brandt 33.0 BUY
Itaú BBA Daniel Sasson 35.0 BUY
JP Morgan Rodolfo Angele 37.0 BUY
Morgan Stanley Carlos de Alba 31.0 BUY
Santander Rafael Barcellos 36.0 BUY
Scotiabank Alfonso Salazar 34.0 BUY
UBS Cadu Schmidt 33.0 BUY
XP Investimentos André Vidal 32.0 BUY

1: R$/unit – Refers to the 12-month target price and the recommendation of KLBN11 shares.

The analysts are professionals from Klabin S.A.’s independent institutions. Any estimates, opinions or forecasts regarding Klabin’s performance made by these analysts are their exclusive responsibility and do not represent estimates, opinions or forecasts of the Company or its management. The fact that Klabin makes the reference above or distributes this data does not imply endorsement or conformity of opinion with that information, conclusions or recommendations.