Petroleo Brasileiro SA – Petrobras (NYSE:PBR) shares reached a new 52-week high during trading on Friday . The company traded as high as $8.67 and last traded at $8.65, with a volume of 18,216,670 shares. The stock had previously closed at $8.06.

A number of research firms have commented on PBR. Credit Suisse Group AG reaffirmed a “sell” rating on shares of Petroleo Brasileiro SA – Petrobras in a report on Sunday, May 22nd. Bank of America Corp. reaffirmed a “hold” rating and set a $4.00 target price on shares of Petroleo Brasileiro SA – Petrobras in a report on Sunday, April 10th. Barclays PLC downgraded Petroleo Brasileiro SA – Petrobras from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $7.50 to $9.00 in a report on Wednesday, July 13th. Zacks Investment Research raised Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Wednesday, July 13th. Finally, Vetr raised Petroleo Brasileiro SA – Petrobras from a “buy” rating to a “strong-buy” rating and set a $7.64 target price on the stock in a report on Monday, June 27th. Seven analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Petroleo Brasileiro SA – Petrobras presently has an average rating of “Hold” and a consensus price target of $6.84.

The firm’s 50 day moving average is $7.42 and its 200 day moving average is $5.80. The firm’s market cap is $56.61 billion.

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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