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Stock impact report

Petrobras downgraded to Hold at Jefferies on Brazil oil export tax [Yahoo! Finance]

Petroleo Brasileiro S.A. Petrobras American Depositary Shares representing Preferred Shares (PBR.A) 
US:NYSE Investor Relations: investidorpetrobras.com.br/en
Company Research Source: Yahoo! Finance
from $20.30, after the Brazilian government announced a temporary 12% oil export tax along with a cut in fuel taxes and diesel subsidies to contain the inflationary impact of the Iran war. While noting that Petrobras could offset part of the export tax by improving refining margins, the firm sees this news materially removing its oil price leverage and ability to raise dividends, the analyst tells investors. Claim 70% Off TipRanks Premium Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now See the top stocks recommended by analysts Read More on PBR: Disclaimer & Disclosure Report an Issue Petrobras downgraded to Hold from Buy at Jefferies Petrobras Joins Brazil's New Diesel Economic Subvention Program Moderately bullish ac Show less Read more
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