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Fly News Breaks for July 8, 2019
PBR
Jul 8, 2019 | 05:53 EDT
Citi analyst Pedro Medeiros raised his price target Friday afternoon on Petrobras shares to $23 from $20.20 and kept a Buy rating on the shares. The analyst believes Petrobras can expand domestic oil production by ~25% in the second half of 2019. He forecasts the stock offers ~17.5% free cash flow to equity yield by 2020.
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