Several brokerages have updated their recommendations and price targets on shares of Petroleo Brasileiro SA – Petrobras (NYSE: PBR) in the last few weeks:

  • 9/21/2016 – Petroleo Brasileiro SA – Petrobras was upgraded by analysts at Raymond James Financial Inc. from an “underperform” rating to a “market perform” rating. They now have a $9.22 price target on the stock, up previously from $2.71.
  • 9/15/2016 – Petroleo Brasileiro SA – Petrobras was upgraded by analysts at Macquarie from an “underperform” rating to a “neutral” rating.
  • 9/14/2016 – Petroleo Brasileiro SA – Petrobras was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $10.04 price target on the stock.
  • 9/13/2016 – Petroleo Brasileiro SA – Petrobras was downgraded by analysts at Tudor Pickering from a “buy” rating to a “hold” rating.
  • 9/8/2016 – Petroleo Brasileiro SA – Petrobras was upgraded by analysts at HSBC from a “hold” rating to a “buy” rating.
  • 8/26/2016 – Petroleo Brasileiro SA – Petrobras was upgraded by analysts at Credit Suisse Group AG from an “underperform” rating to a “neutral” rating. They now have a $8.60 price target on the stock, up previously from $2.00.
  • 8/15/2016 – Petroleo Brasileiro SA – Petrobras had its “underweight” rating reaffirmed by analysts at Barclays PLC. They now have a $9.00 price target on the stock.
  • 8/12/2016 – Petroleo Brasileiro SA – Petrobras had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $10.00 price target on the stock.
  • 8/11/2016 – Petroleo Brasileiro SA – Petrobras was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Petrobras is the largest integrated energy firm in Brazil. The company boasts healthy production growth and has announced several important discoveries of late. Additionally, loans from China should offer some relief considering Petrobras’ huge debt burden and the money-laundering scandal, which has scarred its credit metrics. Moreover, we appreciate the cost-control initiatives adopted by Petrobras. We are also optimistic about the company’s discovery of high-quality oil from the seventh well in the Santos Basin. However, much is yet to be achieved considering the firm’s scale of operations and investment base. Adding to the problems is the persistent weak commodity price environment, although oil is now in the bullish territory. On top of that, high debt levels and a decline in the number of available creditors have put pressure on the company’s financials.”
  • 8/3/2016 – Petroleo Brasileiro SA – Petrobras was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating. They now have a $8.00 price target on the stock.
  • 7/28/2016 – Petroleo Brasileiro SA – Petrobras was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $7.96 price target on the stock.
  • 7/25/2016 – Petroleo Brasileiro SA – Petrobras was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $9.50 price target on the stock. According to Zacks, “Petrobras is the largest integrated energy firm in Brazil. The company boasts healthy production growth and has announced several important discoveries of late. Additionally, loans from China should offer some relief considering Petrobras’ huge debt burden and the money-laundering scandal, which has scarred its credit metrics. Moreover, we appreciate the cost-control initiatives adopted by Petrobras. We are also optimistic about the company’s discovery of high-quality oil from the seventh well in the Santos Basin. Additionally, the company attained a new monthly production record in June, eclipsing the one recorded in Aug 2015.”

Petroleo Brasileiro SA – Petrobras (NYSE:PBR) traded up 3.15% during trading on Wednesday, hitting $9.51. The stock had a trading volume of 24,533,780 shares. Petroleo Brasileiro SA – Petrobras has a 52 week low of $2.71 and a 52 week high of $10.24. The company’s market cap is $62.03 billion. The stock has a 50-day moving average price of $9.11 and a 200-day moving average price of $7.31.

Petroleo Brasileiro SA Petrobras is a Brazil-based integrated energy company. The Company operates in the Exploration and Production (E&P); Refining, Transportation and Marketing (RTM); Gas and Power; Biofuels; Distribution, and International segments. E&P includes exploration, development and production of crude oil, natural gas liquid and natural gas in Brazil.

5 Day Chart for NYSE:PBR

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