Capital Market Analysts

Gerdau has reports written and published by financial analysts.

Gerdau does not guarantee or endorse any conclusions presented by these institutions and analysts. For copies of these reports, please contact the institution or the analyst of your choice directly and at your own risk. This list does not include all analysts and institutions that follow and publish reports on Gerdau. Gerdau reserves the right to include the names of analysts and institutions in this list. Any opinion, estimates or projections related to the performance of the Gerdau companies do not represent the opinion, projections or estimates of Gerdau or its management.

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Capital Market Analysts
INSTITUTION ANALYST DATE TARGET PRICE RECOMMENDATION
Banco do Brasil Mary Silva 10/10/2025 R$22.00 Buy
Bank of America Caio Ribeiro 06/01/2026 R$27.00 Buy
Bradesco Rafael Barcellos 05/06/2026 R$24.00 Neutral
BTG Pactual Leonardo Correa 06/05/2026 R$28.00 Buy
Citi Gabriel Barra 05/06/2026 R$27.00 Buy
Genial Luca Vello 02/24/2026 R$21.50 Neutral
Goldman Sachs Marcio Farid 06/17/2026 R$25.00 Buy
HSBC Jon Brandt 04/29/2026 R$26.00 Buy
Itaú Daniel Sasson 04/28/2026 R$27.00 Buy
JP Morgan Rodolfo Angele 06/24/2026 R$32.00 Buy
Morgan Stanley Carlos de Alba 04/29/2026 R$24.00 Neutral
Safra Ricardo Monegaglia 06/17/2026 R$30.00 Buy
Santander Yuri Pereira 12/17/2025 R$30.00 Buy
Scotiabank Alfonso Salazar 03/26/2026 R$22.00 Buy
UBS Caio Greiner 06/01/2025 R$28.00 Buy
XP Lucas Laghi 03/09/2026 R$25.00 Buy

 

 

Legend
Buy The analyst expects the stock to outperform the market average.
Neutral The analyst expects the stock to perform in line with the market average.
Sell The analyst expects the stock to underperform the market average.

 

Last updated: July 06, 2026

Market Analysts
Institution Net Sales EBITDA EBITDA Margin Net Income
2026 2027 2026 2027 2026 2027 2026 2027
Banco do Brasil 69,155 71,996 11,389 11,459 16.5% 15.9% 4,092 4,753
Bank of America 67,910 67,227 13,124 12,172 19.3% 18.1% 5,649 5,005
Bradesco 68,828 71,558 12,258 12,444 17.8% 17.4% 4,979 5,549
BTG Pactual 69,418 71,390 12,872 13,344 18.5% 18.7% 5,594 6,146
Citi 68,719 71,997 12,086 13,356 17.6% 18.6% 5,091 6,443
Genial 70,380 71,513 11,502 12,170 16.3% 17.0% 4,509 5,317
Goldman Sachs 69,745 72,856 11,790 12,186 16.9% 16.7% 4,606 4,727
HSBC 71,855 74,771 12,318 13,099 17.1% 17.5% 5,101 5,574
Itaú 69,576 74,787 12,437 13,357 17.9% 17.9% 5,653 6,206
JP Morgan 67,901 68,550 12,181 13,001 17.9% 19.0% 4,987 5,836
Morgan Stanley 71,145 72,908 12,706 11,255 17.9% 15.4% 5,051 4,086
Safra 71,023 73,776 12,631 14,452 17.8% 19.6% 5,438 6,746
Santander 71,264 73,022 11,738 12,204 16.5% 16.7% 4,991 5,309
Scotiabank 72,298 75,546 10,973 12,821 15.2% 17.0% 3,977 5,138
UBS 69,135 70,266 12,447 12,937 18.0% 18.4% 5,692 6,425
XP 70,898 73,152 12,206 11,654 17.2% 15.9% 5,305 4,573