Short Term Price Target on Petroleo Brasileiro S.A.- Petrobras (PBR)

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) stock is expected to deviate a maximum of $4.16 from the average target price of $7.48 for the short term period. 8 Street Experts have initiated coverage on the stock with the most promising target being $17 and the most muted being $3.

Petroleo Brasileiro S.A. – Petrobras has dropped 0.69% in the last five trading days, however, the shares have posted positive gains of 23.24% in the last 4 weeks. Petroleo Brasileiro S.A. – Petrobras is up 21.98% in the last 3-month period. Year-to-Date the stock performance stands at 66.51%. Also, JP Morgan upgrades its rating on Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR). The global brokerage major raises the current price target from $5.8 per share to $7.4 per share. Analysts at the JP Morgan have a current rating of Neutral on the shares. The shares were previously rated Underweight. The rating by the firm was issued on May 24, 2016.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) : 4 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock. 3 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 8 Wall Street Analysts endorse the stock as a Sell with a rating of 3.88.

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR): The stock opened at $7.12 on Thursday but the bulls could not build on the opening and the stock topped out at $7.23 for the day. The stock traded down to $7.00 during the day, due to lack of any buying support eventually closed down at $7.16 with a loss of -0.28% for the day. The stock had closed at $7.18 on the previous day. The total traded volume was 18,368,507 shares.

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.

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