Petroleo Brasileiro S.A.- Petrobras (NYSE: PBR) has recently received a number of price target changes and ratings updates:

  • 9/1/2017 – Petroleo Brasileiro S.A.- Petrobras was upgraded by analysts at Deutsche Bank AG from a “sell” rating to a “hold” rating.
  • 9/1/2017 – Petroleo Brasileiro S.A.- Petrobras was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 8/24/2017 – Petroleo Brasileiro S.A.- Petrobras was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 8/17/2017 – Petroleo Brasileiro S.A.- Petrobras was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/16/2017 – Petroleo Brasileiro S.A.- Petrobras was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/15/2017 – Petroleo Brasileiro S.A.- Petrobras had its “market perform” rating reaffirmed by analysts at Raymond James Financial, Inc..
  • 8/11/2017 – Petroleo Brasileiro S.A.- Petrobras was given a new $12.00 price target on by analysts at Credit Suisse Group. They now have a “buy” rating on the stock.
  • 8/8/2017 – Petroleo Brasileiro S.A.- Petrobras was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Petrobras ADRs continue to struggle, reflecting lingering issues pertaining to the money-laundering scandal that has scarred its credit metrics. The stock is down -12% in the year-to-date period, underperforming the broader industry, which is down -3% in the same time period. There's no ignoring that the crude price slump has adversely affected the group’s earnings and cash flows, particularly at its upstream unit. On top of that, high debt levels and a decline in the number of available creditors have put pressure on the company’s financials. True, Petrobras posted good Q1 financial results but most of that was due to favorable market conditions. Nevertheless, the company stands to benefit from Brazil’s economic growth and huge pre-salt oil reserves. Given its strong pipeline of development projects and impressive exploration successes, we recommend a Hold rating on Petrobras ADRs.”
  • 8/7/2017 – Petroleo Brasileiro S.A.- Petrobras was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating.
  • 8/5/2017 – Petroleo Brasileiro S.A.- Petrobras was given a new $12.00 price target on by analysts at Credit Suisse Group. They now have a “buy” rating on the stock.
  • 8/1/2017 – Petroleo Brasileiro S.A.- Petrobras was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Petrobras ADRs continue to struggle, reflecting lingering issues pertaining to the money-laundering scandal that has scarred its credit metrics. The stock is down -13% in the year-to-date period, underperforming the broader industry, which is down -4% in the same time period. There's no ignoring that the crude price slump has adversely affected the group’s earnings and cash flows, particularly at its upstream unit. On top of that, high debt levels and a decline in the number of available creditors have put pressure on the company’s financials. True, Petrobras posted good Q1 financial results but most of that was due to favorable market conditions. Nevertheless, the company stands to benefit from Brazil’s economic growth and huge pre-salt oil reserves. Given its strong pipeline of development projects and impressive exploration successes, we recommend a Hold rating on Petrobras ADRs.”
  • 7/12/2017 – Petroleo Brasileiro S.A.- Petrobras had its “underweight” rating reaffirmed by analysts at Barclays PLC. They now have a $8.00 price target on the stock, down previously from $11.00.
  • 7/11/2017 – Petroleo Brasileiro S.A.- Petrobras was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $8.75 price target on the stock. According to Zacks, “Even though 2016 was a roller-coaster year for the energy market, Petrobras stock more than doubled during the period. The largest integrated energy firm in Brazil, Petrobras boasts of a healthy production growth and has announced several important discoveries of late. Additionally, loans from China should offer some relief considering Petrobras’ money-laundering scandal, which has scarred its credit metrics. Moreover, we appreciate the cost-control initiatives adopted by Petrobras. As it is, the company stands to benefit from Brazil’s economic growth and huge pre-salt oil reserves. Given its strong pipeline of development projects and impressive exploration successes, we recalibrate our investment thesis on Petrobras ADRs to 'Buy'..”

Petroleo Brasileiro S.A.- Petrobras (PBR) traded up 3.67% during midday trading on Wednesday, hitting $9.89. The stock had a trading volume of 13,704,804 shares. The firm has a 50-day moving average of $8.82 and a 200-day moving average of $9.00. The company’s market cap is $64.51 billion. Petroleo Brasileiro S.A.- Petrobras has a 12-month low of $7.61 and a 12-month high of $12.56. Petroleo Brasileiro S.A.- Petrobras also was the target of some unusual options trading on Monday. Traders purchased 6,769 put options on the company. This represents an increase of 103% compared to the average daily volume of 3,340 put options.

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