Goldman Sachs Rates Petrobras (PBR) a Buy

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Goldman Sachs assumes coverage on Petrobras (NYSE: PBR) with a Buy rating and $36 price target.

"We believe that Petrobras’ discounted valuations (on overstated political and balance sheet concerns) and likely positive newsflow over the next 12-18 months on capital discipline and delivery of production units should lead the stock to outperform its peers," the firm stated.

For an analyst ratings summary and ratings history on Petrobras click here. For more ratings news on Petrobras click here.

Shares of Petrobras closed at $24.83 yesterday, with a 52 week range of $20.76-$42.75.

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