Analyst Coverage

Firm Analyst Recommendation Target Price Last Revision
Banco Fator Jacqueline Lison Buy R$ 44.00 04/04/2011
Felipe Rocha
Luiz Guilherme Fonseca
Bank of America Merrill Lynch Mauricio Fernandes Buy R$ 14.00 05/10/2013
Bradesco Luis Azevedo
Tales Lima Freire
Outperform
R$ 15.50 05/13/2013
Brasil Plural Daniela Guanabara
Patricia Meirelles
Ruben Couto
Buy
R$ 40.00 12/13/2012
BTG Pactual J. C. Santos
Pedro Montenegro
Buy R$ 15.00 05/07/2013
Coinvalores Sandra Peres Buy R$ 38.50 04/19/2012
Credit Suisse Clarissa Berman
Buy R$ 32.00 11/23/2011
HSBC Luciano Campos Neutral R$ 37.00 11/26/2012
Itaú Thiago Macruz Outperform R$ 13.70 05/13/2013
J.P. Morgan Marcelo Santos Buy R$ 46.00 01/16/2013
J. Safra Marcio Osako Neutral R$ 13.20 05/13/2013
Morgan Stanley Javier Martinez de Olcoz Cerdan
Overweight
R$ 16.40 05/13/2013
Santander Bruno Giardino Buy R$ 43.50 01/31/2013

Anhanguera Educacional is covered by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Anhanguera Educacional´s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Company or its management. Anhanguera Educacional does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations. The Company does not warrant that the above list of analysts is complete nor updated, and the information herein provided are subject to the authorization of the analysts.