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Fly News Breaks for October 12, 2015
PBR
Oct 12, 2015 | 05:49 EDT
Barclays analyst Paul Cheng downgraded the common shares of Petrobras to Equal Weight saying the stock will likely "continue to be held captive" to the market's focus on its "unsustainable levels of debt" and headlines surrounding the corruption investigation. Cheng cut his price target for shares to $6.50 from $11. The analyst maintains an Overweight rating on Petrobras preferred shares.
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