BofA downgraded Petrobras (PBR) to Neutral from Buy with a price target of R$34, down from R$42. The firm said it is bracing for tighter yields and regulatory risk.
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Read More on PBR:
- Petrobras Seeks New Opportunities in Ivory Coast with Exploration Interest
- Unusually active option classes on open June 3rd
- Petrobras’ Credit Rating Outlook Revised to Stable by Moody’s
- Petrobras Files for R$3 Billion Debenture Offering to Fund Priority Projects
- Petrobras call volume above normal and directionally bullish
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