Analyst Coverage
| COMPANY | ANALYST | RECOMMENDATION | TARGET PRICE | LAST REVISION |
| BTG Pactual | João Pimentel | BUY | R$ 20.00 | 11/08/2018 |
| Credit Suisse | Maria Carolina Carneiro | OUTPERFORM | R$ 18.00 | 07/11/2018 |
| Goldman Sachs | Bruno Pascon | Neutral | R$ 19.00 | 11/09/2018 |
| Itaú BBA | Pedro Manfredini | OUT PERFORM | R$ 21.00 | 11/27/2017 |
| JP Morgan | Fernando Abdalla | OVERWEIGHT | R$ 21.50 | 85/24/2018 |
| Santander | Thiago Silva | BUY | R$ 20.54 | 07/20/2018 |
| Banco do Brasil | Rafael Dias | OUT PERFORM | R$ 24.30 | 11/10/2017 |
| Safra | Kaique Vasconcellos | OUT PERFORM | R$ 20.20 | 11/08/2018 |
| Brasil Plural | Vitor Sousa | OVERWEIGHT | R$ 23.00 | 05/03/2018 |
| Bradesco | Francisco Navarrete | OUT PERFORM | R$ 24,00 | 02/08/2018 |
Source: Bloomberg and Research Reports
Alupar Investimento S.A. is covered by the analysts listed above. It is important to note that any opinion, estimate and forecast regarding Alupar’s performance made by these analysts are exclusively theirs and do not represent opinions or forecasts of the Company or its Management. Alupar Investimento S.A. does not endorse said information or share those opinions, conclusions or recommendations, or their dissemination. The Company does not guarantee that the list of analysts above is complete or up-to-date and that the information to be made available here is subject to authorization of the respective analysts.