Market Overview

UPDATE: Morgan Stanley Reiterates on Petrobras Following LT Size Definition

Share:
Related PBR
What Rio worries? Brazilian Stocks Rev Higher
Barclays Ratings And Price Target Changes For Wednesday, July 13, 2016
Petrobras eyes reduced role in Brazil's natural gas industry (Seeking Alpha)

In a report published Wednesday, Morgan Stanley analyst Bruno Montanari reiterated an Overweight rating on Petrobras (NYSE: PBR), but removed the $19.50 price target.

In the report, Morgan Stanley noted, “Normalized results were slightly better than our model, but we focus on the LT strategic plan. By defining its optimum oil output size at 4.0Mbbl/d, PBR sends a message that capex will indeed peak in the medium-term, opening room for the market to see a path for free cash flow generation capacity.”

Petrobras closed on Tuesday at $11.33.

Latest Ratings for PBR

DateFirmActionFromTo
Jul 2016BarclaysDowngradesEqual-weightUnderweight
May 2016JP MorganUpgradesUnderweightNeutral
May 2016Raymond JamesDowngradesMarket PerformUnderperform

View More Analyst Ratings for PBR
View the Latest Analyst Ratings

Posted-In: Bruno Montanari Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

Related Articles (PBR)

View Comments and Join the Discussion!