Petrobras (PBR) PT Raised to $16.20 at Jefferies

Jefferies analyst Alejandro Demichelis raised the price target on Petrobras (NYSE: PBR) to $16.20 (from $15.50) while maintaining a Hold rating.

The analyst comments "PBR’s 2025-29 plan brought limited news but the announced US$0.53/ADR special div is positive. The key deltas are an increase in gross debt ceiling to US$75bn (from US$65bn) & the pre-announced 9% capex hike (mostly for Downstream). This should allow PBR to keep base divs at US$10bn pa with US$1-2bn pa specials. The 5-year prod profile is unchanged with 2025 output flat YoY. All in, we see little to reinvigorate PBR’s story. HOLD. Conf call today 12.20pm ET."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Phillips 66, Marathon Merger Talks Collapsed - Semafor
• Critical One Energy closes second tranche of flow-through placement