Josh Brown Likes Petroleo Brasileiro Petrobras SA (ADR)

Loading...
Loading...

CNBC Fast Money's Josh Brown spoke on the show about Petroleo Brasileiro Petrobras SA (ADR) PBR.

He thinks that all the bad news are priced in the stock, as traders have already accepted the fact that there may be an equity issuance. He also mentioned the corruption investigation and low crude oil price as the news that have hurt the stock recently.

Brown added that Petroleo Brasileiro Petrobras is down 31 percent year-to-date while Brazilian Bovespa is up 2 percent. He explained that the stock might be close to the bottom because it got downgraded by UBS and traded higher on Wednesday.

Posted In: CNBCMediaTrading IdeasJosh Brown
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...