Credit Suisse Maintains Petroleo Brasileiro SA Petrobras (ADR) to Neutral with Price Target $11.00

Brokerage firm Credit Suisse Maintains its rating on Petroleo Brasileiro SA Petrobras (ADR)(NYSE:PBR). In a research note issued to the investors, the brokerage major Raises the price-target to $11.00 per share. The shares have been rated Neutral. The rating by Credit Suisse was issued on Sep 26, 2016.

In a different note, On Sep 21, 2016, Raymond James said it Upgrades its rating on Petroleo Brasileiro SA Petrobras (ADR). The shares have been rated ‘Market Perform’ by the firm. On Sep 15, 2016, Macquarie said it Upgrades its rating on Petroleo Brasileiro SA Petrobras (ADR). The shares have been rated ‘Neutral’ by the firm. On Sep 13, 2016, Tudor Pickering said it Downgrades its rating on Petroleo Brasileiro SA Petrobras (ADR). The shares have been rated ‘Hold’ by the firm. On Aug 26, 2016, Credit Suisse said it Upgrades its rating on Petroleo Brasileiro SA Petrobras (ADR). In the research note, the firm Raises the price-target to $2.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 13, 2016, Barclays said it Downgrades its rating on Petroleo Brasileiro SA Petrobras (ADR). In the research note, the firm Raises the price-target to $7.50 per share. The shares have been rated ‘Underweight’ by the firm.

Petroleo Brasileiro SA Petrobras (ADR) (PBR) made into the market gainers list on Thursdays trading session with the shares advancing 0.53% or 0.05 points. Due to strong positive momentum, the stock ended at $9.56, which is also near the day’s high of $9.83. The stock began the session at $9.7 and the volume stood at 2,81,93,549 shares. The 52-week high of the shares is $10.24 and the 52 week low is $2.71. The company has a current market capitalization of $62,353 M and it has 6,52,22,48,500 shares in outstanding.

Petroleo Brasileiro SA Petrobras (ADR)(PBR) last announced its earnings results on May 12, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $17.99B. Analysts had an estimated revenue of $21.78B. Earnings per share were $-0.02. Analysts had estimated an EPS of $0.01.

Petroleo Brasileiro SA Petrobras is a Brazil-based integrated energy company. The Company operates in the Exploration and Production (E&P); Refining Transportation and Marketing (RTM); Gas and Power; Biofuels; Distribution and International segments. E&P includes exploration development and production of crude oil natural gas liquid and natural gas in Brazil. RTM covers the refining logistics transport and trading of crude oil and oil products activities export of ethanol extraction and processing of shale and interests in petrochemical companies in Brazil. The Gas and Power segment includes transportation and trading of natural gas produced in Brazil among other activities. Biofuels segment covers the activities of production of biodiesel and its co-products as well as the ethanol-related activities. The Distribution segment includes its retail network and wholesale channels. The International segment includes its activities in the Americas Africa Europe and Asia.

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