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PBR

Petrobras

$14.44

-0.09 (-0.62%)

11:42
09/20/19
09/20
11:42
09/20/19
11:42

Petrobras suffers increase in fuel theft from pipelines, Reuters reports

Petrobras is confronting a new challenge, namely that thieves are stealing millions of dollars worth of its fuel to sell on the black market, Reuters' Gram Slattery and Marta Nogueira report. Robberies from the state-owned oil company's pipelines rose to a record high 261 incidents in the states of Rio de Janeiro and Sao Paulo last year, up from just one incident in 2014, the authors say, citing an August securities filing and statements made to Reuters by representatives of the company. Police say that most of those thefts are the work of sophisticated criminal organizations, some with their own trucks, distribution firms, and even retail gas stations, the authors note. CEO Roberto Castello Branco said in June that crime costs Petrobras' distribution unit Transpetro over $37M per year, the authors note. Reference Link

PBR Petrobras
$14.44

-0.09 (-0.62%)

07/08/19
SBSH
07/08/19
NO CHANGE
Target $23
SBSH
Buy
Petrobras price target raised to $23 from $20.20 at Citi
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.
07/11/19
GSCO
07/11/19
INITIATION
Target $19.7
GSCO
Buy
Petrobras initiated with a Buy at Goldman Sachs
Goldman Sachs started Petrobras with a Buy rating and $19.70 price target. The company's improving returns and free cash flow are not fully priced in at current share levels, Goldman says.
07/11/19
07/11/19
INITIATION
Target $21.6

Buy
Petrobras initiated with a Buy at Goldman Sachs
As previously reported, Goldman Sachs analyst Bruno Amorim started Petrobras with a Buy rating and a price target of $21.60, saying the company is in the process of transitioning from a "turnaround" story to one of growth and cash generation. The analyst adds that "after a decade" of disappointing on production growth forecasts, Petrobras is positioned to expand its production volume by about 9% per year in the 2018-2020 period. Amorim further believes that investors will respond well to the management's efforts in selling non-core assets to reduce leverage and invest the proceeds in the offshore Santos Basin.
07/11/19
07/11/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Microsoft (MSFT) initiated with an Outperform at Cowen. 2. Petrobras (PBR) initiated with a Buy at Goldman Sachs. 3. Navidea (NAVB) initiated with a Buy at Maxim. 4. Immunic (IMUX) initiated with a Buy at Chardan. 5. Target (TGT) was initiated with a Conviction Buy at Goldman Sachs, while Walmart (WMT), Home Depot (HD), Lowe's (LOW), and Costco (COST) were initiated with a Buy, and Bed Bath & Beyond (BBBY) was initiated with a Sell. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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TXRH

Texas Roadhouse

$49.03

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FCBP

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$21.23

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HUSA

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NVDA

Nvidia

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UTX

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VGZ

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