The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) hit a new 52-week high and has $16.60 target or 46.00% above today’s $11.37 share price. The 5 months bullish chart indicates low risk for the $72.37 billion company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $16.60 price target is reached, the company will be worth $33.29 billion 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 12.67M shares traded hands. Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) has risen 113.41% since March 14, 2016 and is uptrending. It has outperformed by 107.80% the S&P500.
Analysts await Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) to report earnings on November, 10. They expect $0.43 earnings per share, up 338.89% or $0.61 from last year’s $-0.18 per share. PBR’s profit will be $2.74B for 6.61 P/E if the $0.43 EPS becomes a reality. After $0.12 actual earnings per share reported by Petroleo Brasileiro SA Petrobras (ADR) for the previous quarter, Wall Street now forecasts 258.33% EPS growth.
Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) Ratings Coverage
Out of 14 analysts covering Petroleo Brasileiro Petrobras SA (NYSE:PBR), 2 rate it a “Buy”, 4 “Sell”, while 8 “Hold”. This means 14% are positive. Petroleo Brasileiro Petrobras SA has been the topic of 29 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The company was downgraded on Thursday, February 4 by JP Morgan. The rating was upgraded by Morgan Stanley on Tuesday, March 22 to “Equal-Weight”. Barclays Capital downgraded Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) on Monday, October 12 to “Equal-Weight” rating. The firm has “Hold” rating given on Friday, August 7 by Deutsche Bank. The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) earned “Neutral” rating by Macquarie Research on Thursday, September 15. The stock of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) earned “Neutral” rating by JP Morgan on Friday, September 11. Barclays Capital maintained it with “Overweight” rating and $11.0 target price in Tuesday, August 11 report. The firm has “Neutral” rating by Bank of America given on Friday, September 11. The firm earned “Underperform” rating on Tuesday, January 12 by Credit Suisse. Credit Suisse maintained it with “Neutral” rating and $11 target price in Monday, September 26 report.
According to Zacks Investment Research, “PETROBRAS-ADR C is an integrated company operating in exploration, production, refining, retailing and transportation of petroleum and its byproducts at home and abroad.”
Another recent and important Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) news was published by Investorplace.com which published an article titled: “Why Yahoo! Inc. (YHOO), salesforce.com, inc. (CRM) and Petroleo Brasileiro SA …” on September 23, 2016.
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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