Goldman Sachs Maintains Buy on Petrobras Brasileiro, Lowers Price Target to $17.6
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Bruno Amorim has maintained a Buy rating on Petrobras Brasileiro (NYSE:PBR) but lowered the price target from $19.7 to $17.6.

March 12, 2024 | 2:33 pm
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NEUTRAL IMPACT
Goldman Sachs maintains a Buy rating on Petrobras Brasileiro but lowers the price target from $19.7 to $17.6.
While the reduction in the price target could suggest a more cautious outlook on the stock's valuation, the maintenance of a Buy rating indicates Goldman Sachs' continued positive view on Petrobras Brasileiro's fundamentals. This mixed signal might lead to a neutral short-term impact on the stock price as investors weigh the lowered price target against the reaffirmed confidence in the company's prospects.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100