Barclays analyst Paul Cheng maintained a Buy rating on Petroleo Brasileiro SA- Petrobras (NYSE: PBR) yesterday and set a price target of $15. The company’s shares closed yesterday at $12.50.
According to TipRanks.com, Cheng is a 4-star analyst with an average return of 6.5% and a 57.2% success rate. Cheng covers the Basic Materials sector, focusing on stocks such as Imperial Oil Limited, Hollyfrontier Corp, and Delek US Holdings.
The word on The Street in general, suggests a Hold analyst consensus rating for Petroleo Brasileiro SA- Petrobras with a $15 average price target.
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Based on Petroleo Brasileiro SA- Petrobras’ latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $2.14 billion. In comparison, last year the company had a net profit of $97.2 million.
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Petróleo Brasileiro SA engages in 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.
