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Santander Brasil (SANB11.SA)*

UBS Rating and Price Target History Chart

Line chart explaining Price target vs Stock Price is described in below table

EQ Rating & Price Target Table

Date	Stock Price (R$)	Price Target (R$)	Rating
2022-03-25	36.90	38.00	Neutral
2022-07-12	27.72	35.00	Neutral
2022-12-18	26.04	32.00	Neutral
2023-01-25	28.93	31.00	Neutral
2023-02-09	28.72	30.00	Neutral
2023-02-16	29.55	29.00	Neutral
2023-06-12	29.82	31.00	Neutral
2024-10-24	28.63	33.00	Neutral
2025-01-16	25.03	29.00	Neutral
2025-04-25	27.88	30.00	Neutral
2025-06-10	28.83	38.00	Buy

Disclosures

Within the past 12 months, UBS has received compensation for products and services other than investment banking services from this company/entity.
UBS Securities LLC makes a market in the securities and/or ADRs of this company.
Because this security exhibits higher-than-average volatility, the FSR has been set at 15% above the MRA for a Buy rating, and at -15% below the MRA for a Sell rating (compared with 6/-6% under the normal rating system).

Note : Historical Price Targets have been adjusted to account for any stock splits, rights issues and/or dividends which may have occurred for this security. Not Priced: Stock was not priced on the given date. No Rating: Issuer was not rated by UBS on the given day. No Price Target: For this issuer no Price Target was set by UBS on the given day. Issuers with an EQ Rating & Price Target Table are covered by UBS-IB Equity Research Analysts. Issuers without an EQ Rating & Price Target Table are not single stock covered.

* Issuers marked with an asterisk are covered by UBS-IB Equity Research Analysts. Issuers without an asterisk are not single stock covered.