Stock On Watch: What’s Petroleo Brasileiro SA Petrobras (ADR) Upside After Touching 52-Week High?

Stock On Watch: What's Petroleo Brasileiro SA Petrobras (ADR) Upside After Touching 52 Week High?

The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) hit a new 52-week high and has $15.21 target or 50.00% above today’s $10.14 share price. The 6 months bullish chart indicates low risk for the $65.43 billion company. The 1-year high was reported on Oct, 6 by Barchart.com. If the $15.21 price target is reached, the company will be worth $32.72B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 4.77M shares traded hands. Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) has risen 110.83% since March 3, 2016 and is uptrending. It has outperformed by 102.48% the S&P500.

Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) Ratings Coverage

Out of 13 analysts covering Petroleo Brasileiro Petrobras SA (NYSE:PBR), 1 rate it a “Buy”, 3 “Sell”, while 9 “Hold”. This means 8% are positive. $12.30 is the highest target while $2 is the lowest. The $7.69 average target is -24.16% below today’s ($10.14) stock price. Petroleo Brasileiro Petrobras SA has been the topic of 27 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) earned “Neutral” rating by JP Morgan on Tuesday, May 24. The stock has “Underweight” rating given by Barclays Capital on Wednesday, July 13. Barclays Capital downgraded the shares of PBR in a report on Monday, October 12 to “Equal-Weight” rating. The rating was maintained by Barclays Capital with “Equal-Weight” on Wednesday, March 23. Credit Suisse maintained the stock with “Neutral” rating in Monday, September 26 report. The rating was initiated by Credit Agricole with “Underperform” on Tuesday, December 15. The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) has “Market Perform” rating given on Wednesday, September 21 by Raymond James. The firm earned “Neutral” rating on Friday, September 11 by Bank of America. On Friday, September 11 the stock rating was maintained by Credit Suisse with “Underperform”. The rating was maintained by Barclays Capital with “Overweight” on Tuesday, August 11.

According to Zacks Investment Research, “Petrolo Brasilerio was founded in October of 1953 to operate in the Brazilian oil sector. The company is a mixed capital corporation that operates in the exploration, production, refining, commercialization, transportation, import, and export of oil and oil products. It also operates in the natural gas segment, in oil product distribution, in petrochemicals, and in fertilizers. The company’s main domestic clients are oil products and natural gas distributors as well as major industrial consumers.”

PBR Company Profile

Petroleo Brasileiro S.A.-Petrobras (Petrobras), incorporated on October 3, 1953, is an energy company. The Company, through its subsidiaries, is engaged in prospecting, drilling, refining, processing, trading and transporting crude oil from producing onshore and offshore oil fields and from shale or other rocks, as well as oil products, natural gas and other liquid hydrocarbons. The Firm operates in five divisions: Exploration and Production (E&P); Refining, Transportation and Marketing (RT&M); Gas and Power; Biofuels, and Distribution. The Firm carries out energy related activities, such as research, development, production, transport, distribution and trading of various forms of energy, as well as other related or similar activities.

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