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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
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