Petroleo Brasileiro SA – Petrobras (NYSE:PBR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $9.86 and last traded at $9.84, with a volume of 16,817,599 shares. The stock had previously closed at $9.58.

PBR has been the subject of several recent analyst reports. Zacks Investment Research upgraded Petroleo Brasileiro SA – Petrobras from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research note on Monday, July 25th. Vetr downgraded Petroleo Brasileiro SA – Petrobras from a “buy” rating to a “hold” rating and set a $7.64 price target for the company. in a research note on Monday, July 11th. Morgan Stanley restated an “overweight” rating and issued a $10.00 price target on shares of Petroleo Brasileiro SA – Petrobras in a research note on Friday, August 12th. Credit Suisse Group AG upgraded Petroleo Brasileiro SA – Petrobras from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $2.00 to $8.60 in a research note on Friday, August 26th. Finally, Citigroup initiated coverage on Petroleo Brasileiro SA – Petrobras in a research note on Tuesday, June 7th. They issued a “reduce” rating for the company. Seven research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.11.

The firm has a 50 day moving average of $8.73 and a 200 day moving average of $6.76. The firm’s market capitalization is $64.41 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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