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Raymond James Financial Inc. upgraded Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) to Market Perform in a statement released earlier today.

Only yesterday Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) traded -3.97% lower at $9.22. PBR’s 50-day average is $9.21 and its two hundred day average is $7.37. The last closing price is up 24.60% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the date range. Volume of trade was up over the average, with 28,394,091 shares of PBR changing hands over the typical 23,004,900

Raymond James Financial Inc. has upgraded Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) to Market Perform in a report released on Wednesday September 21, 2016.

Performance Chart

Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR)

With a market capitalization of $0, Petroleo Brasileiro SA Petrobras (ADR) has with a 52 week low of $2.71 and a 52 week high of $10.24 .

In addition to Raymond James Financial Inc. reporting its stock price target, a total of 8 brokerages have issued a ratings update on the company. The consensus target price is $4.88 with zero analysts rating the company a strong buy, one equity analyst rating the company a buy, three firms rating the stock a hold, 4 brokers rating the stock a underperform, and finally zero equity analysts rating the stock a sell.

About Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR)

Petroleo Brasileiro S.A.-Petrobras is an energy company. The Company is engaged in prospecting, drilling, refining, processing, trading and transporting crude oil from producing onshore and offshore oil fields and from shale or other rocks, as well as oil products, natural gas and other liquid hydrocarbons. It operates in segments: Exploration and Production (E&P); Refining, Transportation and Marketing (RT&M); Gas and Power; Biofuels, and Distribution. It carries out energy related activities, such as research, development, production, transport, distribution and trading of various forms of energy, as well as other related or similar activities. It owns and operates over three LNG terminals using approximately three Floating Storage and Regasification Units (FSRUs) in Guanabara Bay (State of Rio de Janeiro) with a send-out capacity of over 700 million cubic feet per day (mmcf/d), in Pecem (State of Ceara) in Northeastern Brazil and in the Todos os Santos Bay (State of Bahia).

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