BofA/Merrill Lynch Starts Petrobras (PBR) at Buy; 'Best Story in Last 6-7 Years'

July 3, 2019 7:22 AM EDT
Get Alerts PBR Hot Sheet
Price: $10.54 +2.33%

Rating Summary:
    8 Buy, 11 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 12 | Down: 17 | New: 16
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(Updated - July 3, 2019 8:58 AM EDT)

(updated to add analyst comments)

BofA/Merrill Lynch analyst Frank McGann initiates coverage on Petrobras (NYSE: PBR) with a Buy rating and a price target of $21.00.

  • Petrobras’s equity story best in last 6-7 years
  • Next few years should see solid growth/structural transformation Resuming
  • For the first time in 6-7 years, the company’s debt levels are now sustainable, and the company can develop its strategy without the encumbrance of a heavy debt load.

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 $15.23 yesterday.

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