Banco Bradesco BBI
Banco Bradesco BBI S.A.
Bradesco BBI is the São Paulo-based investment banking arm of Banco Bradesco, one of Brazil's largest private banks. Its research department covers Latin American equities, equity strategy and macroeconomics.
Company history
Banco Bradesco was founded in Marília, São Paulo state, in 1943. The group structured Bradesco BBI as its investment bank in February 2006. BBI originates, executes and distributes equity, M&A and fixed-income transactions, and operates offices in São Paulo, London, New York and Hong Kong.
- 1943Banco Bradesco founded in Marília, São Paulo state
- 2006Bradesco BBI structured as the group's investment bank
- 2021Ranked joint No. 1 in All-Brazil Research Team
Research
The research team had more than 30 specialists in equities, strategy and macroeconomics and covered 246 companies as of 2026, about 92% of the MSCI Latin America index. Institutional Investor's All-Brazil Research Team ranked it joint No. 1 with BTG Pactual in 2021 and 2022; it placed fourth in Extel's 2025 Latin America survey. Outperform, Neutral and Underperform ratings are relative to the analyst's coverage list.
Coverage12M
- Stocks
- 17
- Ratings
- 16
- Price targets
- 15
- Median upside
- +9.6%
- Upgrades
- 9
- Downgrades
- 7
- Initiations
- 0
- Reiterations
- 0
- Targets raised
- 5
- Targets cut
- 2
- Positive33%4
- Neutral67%8
- Negative0%0
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 OMABGrupo Aeroportuario del Centro Norte, S.A.B. de C.V. | Neutral | $110 |
 PACGrupo Aeroportuario del Pacífico, S.A.B. de C.V. | Outperform | $285 |
 PBRPetróleo Brasileiro S.A. - Petrobras | Outperform | $20 |
 VTEXVtex | Neutral | $4.50 |
 ASRGrupo Aeroportuario del Sureste, S. A. B. de C. V. | Outperform | $365 |
 EROEro Copper Corp. | Neutral | — |
 NUNu Holdings Ltd. | Outperform | $17 |
 YPFYPF Sociedad Anónima | Neutral | $55 |
 ARCOArcos Dorados Holdings Inc. | Neutral | — |
 BAKBraskem S.A. | — | $1.50 |
Analysts24M
- Vicente NetoBAK · PBR2
- Rodolfo RamosPAC2
- Bruno MendoncaCX1
- Henrique BrustolinKOF1
- Rafael BarcellosTX1
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
| IOIOCJY | Downgrade | Neutral | Sep 15 | |
| CSCSCCF | Downgrade | Neutral | Sep 2 | |
| Ero Copper Corp.ERO | Downgrade | Outperform →Neutral | Sep 2 | |
 Moderna, Inc.MRNA | Upgrade | Outperform | Aug 28 | |
| Petróleo Brasileiro S.A. - PetrobrasPBR | Upgrade | Outperform | $19 →$20 | Aug 27 |
| Grupo Aeroportuario del Centro Norte, S.A.B. de C.V.OMAB | Downgrade | Outperform →Neutral | $120 →$110 | Aug 27 |
| YPF Sociedad AnónimaYPF | Downgrade | Outperform →Neutral | $55 | Aug 11 |
| VtexVTEX | Downgrade | Neutral | $4.50 | Aug 7 |
Similar coverage12M
References
- Research - Bradesco BBIbradescobbi.com.br
- A Definitive Leader Has Emerged in Brazil Research - Institutional Investor (2023)institutionalinvestor.com
- Extel Reveals Top Latin America Research Teams (2025)einpresswire.com
- Valor Econômico via Senado Federal clipping (April 2007)www2.senado.leg.br
- Na Ágora, conectamos você à premiada visão do Bradesco BBI - Estadão E-Investidor (September 2026)estadao.com.br
- Bradesco BBI research report with ratings distribution (2026)api.mziq.com