Morgan Stanley Sticks to Their Hold Rating for Petroleo Brasileiro SA- Petrobras (PBR)

In a report released yesterday, Bruno Montanari from Morgan Stanley maintained a Hold rating on Petroleo Brasileiro SA- Petrobras (PBRResearch Report), with a price target of $13.00. The company’s shares closed yesterday at $11.43.

According to TipRanks, Montanari is a 4-star analyst with an average return of 15.5% and a 75.00% success rate. Montanari covers the Utilities sector, focusing on stocks such as Petroleo Brasileiro SA- Petrobras, Ecopetrol SA, and Pampa Energia SA.

Petroleo Brasileiro SA- Petrobras has an analyst consensus of Hold, with a price target consensus of $11.38, implying a -0.44% downside from current levels. In a report released on March 2, Bank of America Securities also maintained a Hold rating on the stock with a $11.50 price target.

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PBR market cap is currently $70.68B and has a P/E ratio of 2.19.

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Founded in 1953, Petróleo Brasileiro SA is a Brazil-based company, which produces and sells oil and gas. It is engaged in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as offers oil products, natural gas, and other liquid hydrocarbons. It operates through the following segments: Exploration and Production; Refining, Transportation, and Marketing; Distribution; Gas & Power; Corporate and Other Businesses.

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