Credit Suisse Downgrades Petrobras (PBR) to Neutral Citing a Fear of Black Swans

Credit Suisse downgraded Petrobras (NYSE: PBR) from Outperform to Neutral with a price target of $15.00.

Analyst Regis Cardoso steps to the sideline citing a possible fear of black swans along with the ADR current valuation which offers limited upside to the analyst's price target.

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 $15.11 yesterday.

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