Grupo Santander downgraded Petrobras (PBR) to Neutral from Outperform with a $13 price target The firm cites lower yields and capital structure concerns for the downgrade.
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Read More on PBR:
- Petrobras downgraded at BofA amid downward pressure on oil prices
- Petrobras downgraded to Neutral from Buy at BofA
- 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
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