Analyst Coverage

COMPANY             ANALYST RECOMENDATION TARGET PRICE COSAN S/A LATEST UPDATE
UBS Luiz Carvalho
Julia Ozenda
Outperform R$44.00 05/31/2017
Goldman Sachs Bruno Pascon Equal-weight R$40.50 05/23/2017
BofA Merrill Lynch Isabella Simonato Outperform R$50.00 04/12/2017
Bradesco Filipe Gouveia Outperform R$47.00 03/10/2017
JP Morgan Lucas Ferreira Equal-weight R$48.00 02/22/2017
BTG Pactual Thiago Duarte
Vito Ferreria
Outperform R$51.00 02/02/2017
HSBC Alexandre Falcão Outperform R$47.00 11/09/2016
Santander Christian Audi
Gustavo Allevato
Outperform R$50.60 10/31/2016
Itaú BBA Diego Mendes Outperform R$47.50 10/07/2016
Morgan Stanley Javier Cerdan Outperform R$35.00 05/12/2016

MARKET CONSENSUS

Outperform 8
Equal-weight 2
Underperform 0

CONSENSUS TARGET PRICE COSAN S/A

Average Price R$46.00
Standard deviation 3.55
Higher R$51.00
Lower R$35.00
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