Upgrades And Renewables Investments Will Shape Brazil's Energy Future

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

01 Dec 24

Updated

21 Dec 25

Views

27

n/a

n/a

AnalystConsensusTarget's Fair Value

n/a

1Y

32.9%

7D

-2.8%

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1Y

32.9%

7D

-2.8%

You can edit this narrative until Dec 22 8:06 AM. Then, changes will post as Updates.

Author's Valuation

R$45.8815.6% undervalued

AnalystConsensusTarget Fair Value

Shared on 21 Dec 25

Fair value Increased 0.78%

EQTL3: Future Earnings Multiple Will Support Bullish Undervaluation Narrative

Analysts have modestly raised their price target on Equatorial by about $0.36 per share to reflect a slightly lower perceived risk, marginally improved long term revenue expectations, and a still supportive future P/E outlook despite a small downward revision to profit margin assumptions. Valuation Changes Fair Value: R$45.52 has risen slightly to about R$45.88, reflecting a modest uplift in intrinsic value estimates.

Shared on 07 Dec 25

Fair value Increased 2.84%

EQTL3: Slower Revenue Decline Is Expected To Support Bullish Outlook

Analysts have modestly raised their price target on Equatorial from approximately $44.26 to $45.52 per share. They cited expectations for a slower revenue decline and a lower future price to earnings multiple, which more than offset slightly weaker projected margins and a higher discount rate.

Shared on 27 Sep 25

Fair value Increased 0.58%

Equatorial’s fair value estimate remained nearly unchanged as a modest decline in net profit margin and an increase in future P/E were offset by only a marginal upward revision in the consensus analyst price target to R$44.26. What's in the News Hosted Analyst/Investor Day event.

Shared on 01 May 25

Fair value Increased 4.16%

Shared on 23 Apr 25

Fair value Decreased 5.14%

AnalystConsensusTarget has increased shares outstanding growth rate from 0.1% to 0.1%.

Shared on 17 Apr 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 09 Apr 25

Fair value Decreased 0.09%

AnalystConsensusTarget has decreased revenue growth from -0.4% to -0.6%.

Shared on 02 Apr 25

Fair value Increased 16%

AnalystConsensusTarget has decreased revenue growth from 0.1% to -0.4%.

Shared on 26 Mar 25

Fair value Decreased 13%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 19 Mar 25

Fair value Increased 7.37%

AnalystConsensusTarget has increased revenue growth from -1.3% to 0.1% and decreased future PE multiple from 20.7x to 18.2x.

Shared on 12 Mar 25

Fair value Decreased 5.63%

AnalystConsensusTarget has increased revenue growth from -1.8% to -1.3% and decreased shares outstanding growth rate from 0.1% to 0.0%.

AnalystConsensusTarget Fair Value

R$45.88

15.6% undervalued

Future estimation in

Growth p.a.

Growth p.a.

%

Decrease

Increase

Current revenue growth rate

-4.74%

Electric Utilities revenue growth rate

0.16%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

19.07%

Calculation

R$4.83b

Earnings '28

x

20.39x

PE Ratio '28

=

R$98.42b

Market Cap '28

R$98.42b

Market Cap '28

/

1.27b

No. shares '28

=

R$77.42

Share Price '28

R$77.42 Share Price '28

Discounted to 2025 @ 19.07% p.a.

=

R$45.87

Fair Value '25