Are Petrobras Brasileiro (NYSE:PBR) Shares Worth Your Time and Dime Following Recent Raymond James Upgrade?

June 11, 2018 - By Vivian Park

Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Logo

Petrobras Brasileiro (NYSE:PBR) Stock Upgrade

Raymond James upgraded the shares of Petrobras Brasileiro (NYSE:PBR) from a “Underperform” rating to “Market Perform” rating in analysts note shared with investors and clients on Monday, 11 June.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Ratings Coverage

Among 7 analysts covering Petroleo Brasileiro SA- Petrobras (NYSE:PBR), 0 have Buy rating, 1 Sell and 6 Hold. Therefore 0 are positive. Petroleo Brasileiro SA- Petrobras has $3000 highest and $12.0 lowest target. $18.33’s average target is 87.42% above currents $9.78 stock price. Petroleo Brasileiro SA- Petrobras had 9 analyst reports since January 18, 2018 according to SRatingsIntel. Bank of America downgraded the shares of PBR in report on Thursday, May 24 to “Hold” rating. The stock of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) has “Hold” rating given on Monday, June 4 by Societe Generale. The firm has “Hold” rating by Credit Suisse given on Thursday, May 24. The firm has “Sell” rating given on Monday, April 23 by Raymond James. The rating was downgraded by UBS to “Hold” on Friday, June 8. The firm has “Hold” rating by Credit Suisse given on Thursday, January 18. The stock has “Buy” rating by Bank of America on Thursday, May 10. The rating was downgraded by Morgan Stanley on Thursday, May 24 to “Equal-Weight”. The firm earned “Hold” rating on Friday, June 1 by J.P. Morgan.

The stock increased 1.24% or $0.12 during the last trading session, reaching $9.78. About 56.56 million shares traded or 127.98% up from the average. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) has risen 42.10% since June 11, 2017 and is uptrending. It has outperformed by 29.53% the S&P500.

Analysts await Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) to report earnings on August, 9. They expect $0.27 earnings per share, up 237.50 % or $0.19 from last year’s $0.08 per share. PBR’s profit will be $1.57 billion for 9.06 P/E if the $0.27 EPS becomes a reality. After $0.32 actual earnings per share reported by Petróleo Brasileiro S.A. – Petrobras for the previous quarter, Wall Street now forecasts -15.63 % negative EPS growth.

Petróleo Brasileiro S.A. – Petrobras operates in the oil, natural gas, and energy industries. The company has market cap of $56.91 billion. The companyÂ’s Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of surplus crude oil and oil products produced in the natural gas processing plants to the domestic and international markets. It currently has negative earnings. The Company’s Refining, Transportation and Marketing segment is involved in refining, logistics, transport, and trading of crude oil and oil products; exportation of ethanol; and extraction and processing of shale, as well as holding interests in petrochemical companies.

More notable recent Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) news were published by: Profitconfidential.com which released: “Petrobras Stock Is Primed for a Sustained Move Toward Higher Prices” on May 14, 2018, also Schaeffersresearch.com with their article: “Options Traders Pile On PBR Stock After CEO Resignation” published on June 01, 2018, Fool.com published: “Why Shares of Petroleo Brasileiro SA Petrobras (ADR) Are Plunging Today” on June 01, 2018. More interesting news about Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) were released by: Seekingalpha.com and their article: “Brazil stocks rebound, sparked by Petrobras CEO choice, SID upgrade” published on June 04, 2018 as well as Benzinga.com‘s news article titled: “Petrobras Responds To Brazilian Trucking Strike — And Receives 3 Big Downgrades” with publication date: May 24, 2018.

Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Ratings Chart

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