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Fly News Breaks for May 10, 2018
PBR
May 10, 2018 | 07:10 EDT
As previously reported, BofA/Merrill upgraded Peterobras to Buy from Neutral and raised its price target to $35 from $25. Analyst Frank McGann expects higher earnings over the next several years due to a healthy oil price environment. McGann expects net debt/net capital to decline below 40% in the next two years, and a recovery in oil/gas production growth to be a catalyst for value creation.
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