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Analyst Coverage

INSTITUTION ANALYST Target Price1 Recommendation
Alkin Research Anderson Meneses anderson.meneses@alkinresearch.com N/A N/A
Ativa Investimentos Ilan Arbetman ilan.arbetman@ativainvestimentos.com.br 37.40 BUY
Banco do Brasil Mary Silva mary.silva@bb.com.br 28.0 HOLD
Banco Inter Gabriela Cortez gabriela.joubert@bancointer.com.br 40.0 BUY
Bank of America George L. Staphos george.l.staphos@bofa.com 30.0 BUY
Bradesco BBI Thiago Lofiego thiago.lofiego@bradescobbi.com.br 40.0 BUY
BTG Pactual Leonardo Correa leonardo.correa@btgpactual.com 39.0 BUY
Eleven Research Diana Stuhlberger diana.stuhlberger@elevenresearch.com N/A N/A
Goldman Sachs Marcio Farid marcio.farid@gs.com 30.0 HOLD
HSBC Jonathan Brandt jonathan.l.brandt@us.hsbc.com 33.0 BUY
Itaú BBA Daniel Sasson daniel.sasson@itaubba.com 35.0 BUY
JP Morgan Rodolfo Angele rodolfo.r.angele@jpmorgan.com 37.0 BUY
Morgan Stanley Carlos de Alba carlos.de.alba@morganstanley.com 31.0 BUY
Santander Rafael Barcellos rafael.barcellos@santander.com.br 36.0 BUY
Scotiabank Alfonso Salazar alfonso.salazar@scotiabank.com 34.0 BUY
UBS Cadu Schmidt cadu.schmidt@ubs.com 33.0 BUY
XP Investimentos André Vidal andre.vidal@xpi.com.br 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.