Multiplan stock: BB Investimentos lifts 2027 target to BRL 41

On October 2, 2026, El Fondo reported that BB Investimentos raised its year-end 2027 price target for Multiplan from BRL 35 to BRL 41 per share. The bank reiterated its buy rating after incorporating the company's first-half 2026 results into its financial model.

Operating trends behind the update

The analysis highlighted same-store sales growth of 7.5% between 2024 and 2025, compared with 1.3% for the Brazilian shopping-center sector average cited by Abrasce. It also said Multiplan continued to post same-store sales growth above domestic inflation during the first half of 2026.

According to the report, rental revenue increased 5.2% year over year to BRL 1.7 billion over the trailing 12 months. Parking revenue rose 9.7% to BRL 370 million, with recent expansions at MorumbiShopping in Sao Paulo and BH Shopping in Minas Gerais supporting the business.

Deleveraging remains an investor focus

Asset recycling and cash generation were another part of the investment case. El Fondo reported that Multiplan sold a 9.33% minority stake in ParkShoppingBarigui for BRL 250 million in the third quarter of 2026. It also cited trailing 12-month consolidated operating cash flow of BRL 1.65 billion.

The report said net debt to EBITDA had declined to 1.9 times by the second quarter of 2026, from 2.3 times in late 2024 after the company used roughly BRL 2 billion to repurchase a block of shares from an institutional investor. For investors, the revised target therefore reflects a combination of operating performance and balance-sheet progress, while the target itself remains an analyst estimate rather than a guaranteed share price.

The broader Brazilian equity market provides the context for how investors may assess property companies, interest rates and domestic consumption. This report describes the cited analysis and is not a forecast of the share price.