Petrobras Brasileiro Upgraded (PBR)

Standpoint Research today upgradad Petrobras Brasileiro (NYSE: PBR) to Buy from Hold and established a two-year price target of $55. The firm notes that investors should be prepared for some volatility, as they believe Petrobras could see $30-35 before reaching $55. However, the firm believes Petrobras has one of the strongest fundamental investment cases among global oils, which they feel should continue to support its stock price appreciation in the long run.

Shares of Petrobras are trading higher today by $0.70, or 1.77%, to $40.24. Shares have traded between $24.47 and $53.46 over the last 52 weeks.