Citigroup Downgrades Petrobras Brasileiro to Neutral, Lowers Price Target to $14
Portfolio Pulse from richadhand@benzinga.com
Citigroup analyst Gabriel Barra has downgraded Petrobras Brasileiro (NYSE:PBR) from Buy to Neutral and lowered the price target from $19 to $14.
August 10, 2023 | 9:39 am
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Petrobras Brasileiro has been downgraded by Citigroup from Buy to Neutral, with a lowered price target from $19 to $14.
The downgrade from Buy to Neutral by Citigroup indicates a less optimistic outlook for Petrobras Brasileiro. The lowered price target from $19 to $14 suggests that the analyst believes the stock is currently overvalued. This could potentially lead to a decrease in the stock's price in the short term.
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IMPORTANCE 80
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