Petróleo Brasileiro S.A. (PBR) Gets Downgraded to Hold From Buy by Jefferies – Here's Why [Yahoo! Finance]
Petroleo Brasileiro S.A. Petrobras American Depositary Shares representing Preferred Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Yahoo! Finance
energy stocks to buy now . Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) was downgraded to Hold from Buy by Jefferies on March 13, with the firm bringing the price target on the stock down to $19 from $20.30. The firm told investors that the rating update came after the Brazilian government announced a temporary 12% oil export tax, as well as a cut in fuel taxes and diesel subsidies as a means to contain the inflationary impact of the US-Israel war with Iran. Jefferies further noted that Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) could offset part of the export tax by improving refining margins, and added that the firm sees this news as materially removing its oil price leverage and ability to raise dividends. Is Petroleo Brasileiro (PBR) the Best-Falling Stock to Buy According to Analysts? Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) also received a rating update from HSBC on March 12. The firm lifted the price target on the stock to $20 from $16 and maintained a Buy ra
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