How Analysts Feel About Petróleo Brasileiro S.A. – Petrobras (PBR) After Touching 52-Week High?

May 17, 2018 - By Kristen Paramore

Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Logo

The stock of Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) hit a new 52-week high and has $16.93 target or 3.00 % above today’s $16.44 share price. The 8 months bullish chart indicates low risk for the $103.06B company. The 1-year high was reported on May, 17 by Barchart.com. If the $16.93 price target is reached, the company will be worth $3.09B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 4.11% or $0.705 during the last trading session, reaching $16.435. About 23.91M shares traded or 47.50% up from the average. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) has risen 52.40% since May 17, 2017 and is uptrending. It has outperformed by 40.85% the S&P500.

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Ratings Coverage

Among 3 analysts covering Petroleo Brasileiro SA- Petrobras (NYSE:PBR), 1 have Buy rating, 1 Sell and 1 Hold. Therefore 33% are positive. Petroleo Brasileiro SA- Petrobras had 3 analyst reports since January 18, 2018 according to SRatingsIntel. Bank of America upgraded the shares of PBR in report on Thursday, May 10 to “Buy” rating. On Monday, April 23 the stock rating was downgraded by Raymond James to “Sell”. Credit Suisse downgraded Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) on Thursday, January 18 to “Hold” rating.

More recent Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) news were published by: Benzinga.com which released: “Foot Locker, Petrobras, Snap, Silver: ‘Fast Money’ Picks For May 17” on May 17, 2018. Also Prnewswire.com published the news titled: “PBR Investor Alert: Kyros Law is Filing Compensation Claims on Behalf of Petrobras (NYSE: PBR) Investors” on April 26, 2018. Seekingalpha.com‘s news article titled: “Petrobras (PBR) Q1 2018 Results – Earnings Call Transcript” with publication date: May 09, 2018 was also an interesting one.

Petróleo Brasileiro S.A. – Petrobras operates in the oil, natural gas, and energy industries. The company has market cap of $103.06 billion. The company's Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of surplus crude oil and oil products produced in the natural gas processing plants to the domestic and international markets. It currently has negative earnings. The Company’s Refining, Transportation and Marketing segment is involved in refining, logistics, transport, and trading of crude oil and oil products; exportation of ethanol; and extraction and processing of shale, as well as holding interests in petrochemical companies.

Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR) Ratings Chart

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