Credit Suisse Assigns a Buy Rating on Petroleo Brasileiro SA- Petrobras

By Carrie Williams

Credit Suisse analyst Andre Natal assigned a Buy rating to Petroleo Brasileiro SA- Petrobras (NYSE: PBR) on December 21 and set a price target of $12.40. The company’s shares opened today at $10.07.

According to TipRanks.com, Natal is ranked #4464 out of 4724 analysts.

Petroleo Brasileiro SA- Petrobras has an analyst consensus of Hold, with a price target consensus of $10.97.

Based on Petroleo Brasileiro SA- Petrobras’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $22.84 billion and quarterly net profit of $84.59 million. In comparison, last year the company earned revenue of $21.75 billion and had a GAAP net loss of $5.08 billion.

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Petróleo Brasileiro SA engages in the oil and gas exploration, production, and distribution activities. It operates through the following segments: Exploration and Production; Refining, Transportation, and Marketing; Distribution; Gas & Power; Biofuel; and Corporate.