Capital Market Analysts

The Gerdau companies have 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.

The list below does not mean that Gerdau endorses or agrees with the information, conclusions or recommendations presented by these analysts and institutions.

Should you be interested in including the name of an analyst or institution, we kindly ask you to send an e-mail to

Banco do Brasil Mary Silva 05/03/24 R$23.00 Buy
Bank of America Caio Ribeiro 05/02/24 R$21.00 Neutral
Bradesco Rafael Barcellos 05/02/24 R$23.30 Buy
BTG Leonardo Correa 05/02/24 R$25.00 Buy
Citi Alex Hacking 05/07/24 R$24.50 Buy
Genial Igor Guedes 05/03/24 R$23.40 Buy
Goldman Sachs Marcio Farid 05/02/24 R$23.33 Buy
HSBC Jonathan Brandt 08/09/23 R$32.50 Buy
Itaú Daniel Sasson 05/02/24 R$20.00 Neutral
JP Morgan Rodolfo Angele 05/02/24 R$30.50 Buy
Morgan Stanley Carlos de Alba 05/03/24 R$24.17 Buy
Safra Ricardo Monegaglia 02/21/24 R$24.50 Neutral
Santander TBD 05/02/24 R$35.00 Buy
Scotiabank Alfonso Salazar 05/02/24 R$31.00 Neutral
XP Lucas Laghi 02/19/24 R$27.00 Buy



Buy The analyst expects the stock to perform better than the market average.
Neutral The analyst expects the stock to perform in line with the market average.
Sell The analyst expects the stock to perform below the market average.


Last update: January 19, 2024