Price Target Update on Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR)

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) : 8 investment research analysts covering Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) have an average price target of $7.48 for the near short term. The highest target price given by the Brokerage Firm to the stock is $17 and the lowest target is $3 for the short term. Analysts expect the variance to be within $4.16 of the average price.

Other Equity analysts have also commented on the company shares. In a research note released to the investors, JP Morgan upgrades its rating on Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Underweight by the brokerage firm. In a recent information released to the investors, JP Morgan raises the new price target from $5.8 per share to $7.4 per share. The rating by the firm was issued on May 24, 2016.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR): stock turned positive on Thursday. Though the stock opened at $7.15, the bulls momentum made the stock top out at $7.23 level for the day. The stock recorded a low of $7.03 and closed the trading day at $7.21, in the green by 4.19%. The total traded volume for the day was 23,871,049. The stock had closed at $6.92 in the previous days trading.

The company shares have dropped -23.37% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $9.59 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $6.59 and the 200 Day Moving Average price is recorded at $5.18.

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. RTM covers the refining, logistics, transport and trading of crude oil and oil products activities, export of ethanol, extraction and processing of shale, and interests in petrochemical companies in Brazil. The Gas and Power segment includes transportation and trading of natural gas produced in Brazil, among other activities. Biofuels segment covers the activities of production of biodiesel and its co-products, as well as the ethanol-related activities. The Distribution segment includes its retail network and wholesale channels. The International segment includes its activities in the Americas, Africa, Europe and Asia.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.