Coverage
| Broker | Analyst | Phone | Date | Rating | Target Price (R$) | |
| BTG Pactual | Carlos Sequeira / Osni Carfi | carlos.sequeira@btgpactual.com / osni.carfi@btgpactual.com | +1(646)924-2479 / +55(11)3383-2634 | Aug-20 | Neutral | 28.00 |
| Credit Suisse | Daniel Federle / Felipe Cheng | daniel.federle@credit-suisse.com / felipe.cheng@credit-suisse.com | +55(11)3701-6311 / +55(11)3701-6332 | Aug-20 | Neutral | 25.00 |
| Eleven | Eric Huang / Daniela Bretthauer | eric.huang@elevenresearch.com / daniela.bretthauer@elevenresearch.com | +55(11)4302-3340 | Aug-20 | Buy | 36.00 |
| Empiricus | Max Bohm / Guilherme Ebaid | microcap@empiricus.com.br | +55(11)3900-2850 | Jun-19 | Buy | 50.00 |
| Genial | Filipe Villegas | filipe.villegas@genialinvestimentos.com.br | +55(11)2137-8888 | May-18 | Buy | N/A |
| Guide | Luis G. Pereira | tavico@guideinvestimentos.com.br | +55(11)4883-6970 | Jul-19 | Neutral | 50.00 |
| Levante | Eduardo Guimarães / Pedro Bresser | smallcaps@levante.com.br / growth@levante.com.br | +55(11)98435-3455 / +55(11)98383-2463 | Jun-20 | Buy | 25.00 |
| Suno Research | Felipe Tadewald / Tiago Reis | contato@sunoresearch.com.br | N/A | Oct-17 | Buy | N/A |
The Company is followed by the analysts listed above. It is important, however, note that any opinions, estimates or forecasts regarding the performance of the Company made by these analysts are theirs alone and do not represent opinions, forecasts or predictions from the Company or our senior management. WE REINFORCE THAT THE TARGET PRICES UNTIL SEP /19 DO NOT CONSIDER THE SHARES SPLIT OF 1:4.