| Firm | Analyst | Recommendation | |
| Evercore ISI | Robert Ottenstein | Buy | |
| Credit Suisse | Marcella Recchia | Buy | |
| Itaú BBA | Gustavo Troyano | Neutral | |
| Goldman Sachs | Thiago Bortoluci | Sell | |
| XP Investimentos | Leonardo Alencar | Buy | |
| Banco do Brasil | Mary Silva | Buy | |
| Scotiabank | Felipe Ucros | Buy | |
| Santander | Alan Alanis | Buy | |
| HSBC | Carlos Laboy | Buy | |
| JP Morgan | Lucas Ferreira | Neutral | |
| Citi | Sergio Matsumoto | Buy | |
| Bradesco | Leandro Fontanesi | Buy | |
| Bank of America – Merrill Lynch | Isabella Simonato | Neutral | |
| Morgan Stanley | Ricardo Alves | Sell | |
| BTG Pactual | Thiago Duarte | Neutral | |
| Barclays | Benjamin Theurer | Buy | |
| UBS | Rodrigo Alcantara | Sell |
