| Date | Company | Recommendation | Target price |
current price (recommendation date) |
| 10/04/12 | Espirito Santo | neutral | 38.00 | 34.62 |
| 02/04/12 | DM BZ WBK | sell | 31.40 | 37.50 |
| 29/02/12 | IDM S.A. | hold | 37.00 | 40.00 |
| 08/02/12 | Trigon DM | buy | 45.00 | 37.70 |
| 03/02/12 | KBC Securities | hold | 34.24 | 33.02 |
| 23/01/12 | DI BRE Bank S.A. | hold | 31.40 | 29.50 |
| 17/01/12 | Millennium DM | buy | 39.10 | 29.00 |