Buy Petrobras (PBR) on Strong Cash Flow Yield - Citi

Citi analyst Pedro Medeiros maintains Neutral on Petrobras (NYSE: PBR) price target of $20.00.

The analyst recommends buying the equity on the back of strong FCF to equity and potential expansion in GY2019.2020. THe says the company's FCF yield would be enhanced a further 5% in the coming 24 months assuming PBR will receive receivables of $4.7 billion from Eletrobras on time and that refining crack margins recover to pre-strike levels.

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 $11.35 yesterday.

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