UPDATE: Morgan Stanley Downgrades Petroleo Brasileiro Petrobras SA to Equal-Weight, Lowers PT on Limited Upside

Loading...
Loading...
In a report published Wednesday, Morgan Stanley analyst Bruno Montanari downgraded the rating on
Petroleo Brasileiro Petrobras SAPBR
from Overweight to Equal-Weight, and lowered the price target from $17.00 to $16.00. In the report, Morgan Stanley noted, “The decision of the government to contract PBR to operate the exceeding volumes from the Transfer of Rights (ToR) was a negative one. Non-discretionary incremental barrels increase future capex, which is a concern. We see limited upside to our target and move to the sidelines at Equal-weight.” Petroleo Brasileiro Petrobras SA closed on Tuesday at $14.98.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorDowngradesAnalyst RatingsBruno MontanariMorgan Stanley
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...