Klabin stock falls 3.16 percent after BBI cut rating

Klabin stock stood at BRL 3.68 on B3 on September 23, 2026, down 3.16 percent from the previous close of BRL 3.80. The decline followed a rating cut from Bradesco BBI, which also lowered its 2027 EBITDA estimate.

BBI cuts its rating

As ADVFN reports, Bradesco BBI reduced Klabin's recommendation from outperform to neutral and cut its price target from BRL 24.00 to BRL 21.00. The broker also reduced its 2027 EBITDA estimate by 11 percent to BRL 8 billion.

The revision gives investors a clear numerical counterpoint to the latest operating data. Klabin's Q2 2026 revenue increased 4.14 percent from BRL 4,945,957,000 in Q1 to BRL 5,150,712,000, while operating income rose 35.26 percent to BRL 1,235,224,000.

Q2 EBITDA margin reaches 38 percent

For Q2 2026, adjusted EBITDA reached BRL 2 billion and the EBITDA margin was 38 percent, according to Yahoo Finance. Sales volume excluding wood was 1.018 million tons, with pulp at 386,000 tons, paper at 359,000 tons and packaging at 273,000 tons.

The same update cited a debt-to-adjusted-EBITDA ratio of 3.2 times, down 0.7 times over 12 months. That combination of operating resilience and lower leverage helps explain why the rating decision rests on valuation and future EBITDA expectations rather than on a single weak quarterly figure.

Stock loses 3.16 percent

Klabin's market capitalization was BRL 22,764,443,020 on September 23, 2026. The 52-week range was BRL 3.24 to BRL 4.21, placing the BRL 3.68 price 12.59 percent below the yearly high.

The preferred share closed its latest quoted session at BRL 3.68 on B3 on September 23, 2026, with a daily change of minus 3.16 percent. The market reaction now puts the BBI valuation reset alongside Q2 revenue growth and the company's 38 percent EBITDA margin.