Shares of Petroleo Brasileiro SA – Petrobras (NYSE:PBR) hit a new 52-week high during trading on Monday . The stock traded as high as $8.32 and last traded at $8.31, with a volume of 10,456,024 shares traded. The stock had previously closed at $8.13.

PBR has been the topic of several research reports. Zacks Investment Research raised shares of Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a research report on Wednesday, March 30th. Credit Suisse Group AG reiterated an “underperform” rating and issued a $2.00 target price on shares of Petroleo Brasileiro SA – Petrobras in a research note on Thursday, March 31st. Deutsche Bank AG downgraded shares of Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “sell” rating in a research note on Thursday, March 24th. Morgan Stanley upgraded shares of Petroleo Brasileiro SA – Petrobras from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $2.00 to $5.60 in a research note on Tuesday, March 22nd. Finally, Citigroup Inc. started coverage on shares of Petroleo Brasileiro SA – Petrobras in a research note on Tuesday, June 7th. They issued a “reduce” rating for the company. Eight investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.79.

The company’s market capitalization is $54.56 billion. The stock’s 50 day moving average is $6.82 and its 200 day moving average is $5.50.

Petroleo Brasileiro SA Petrobras is a Brazil-based integrated energy company. The Company operates in the Exploration and Production (E&P); Refining, Transportation and Marketing (RTM); Gas and Power; Biofuels; Distribution, and International segments. E&P includes exploration, development and production of crude oil, natural gas liquid and natural gas in Brazil.

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