{"id":26192,"date":"2023-06-22T18:28:56","date_gmt":"2023-06-22T22:28:56","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/brazilian-oil-giant-petrobras-raised-at-goldman-on-attractive-valuation\/"},"modified":"2023-06-22T18:28:58","modified_gmt":"2023-06-22T22:28:58","slug":"brazilian-oil-giant-petrobras-raised-at-goldman-on-attractive-valuation","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=26192","title":{"rendered":"Brazilian oil giant Petrobras raised at Goldman on attractive valuation"},"content":{"rendered":"
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\u00a9 Reuters. Brazilian oil giant Petrobras (PBR) raised at Goldman on attractive valuation<\/span>
\n<\/i>\n<\/div>\n

Goldman Sachs analysts upgraded shares of\u00a0Petrobras (NYSE:) to Buy, despite the 50%+ (dividend-adjusted) year-to-date rally.<\/p>\n

The analysts still see an attractive valuation given that the company offers ~15% FCF yield in 2024-25E, compared to mid-high single digits for global majors.<\/p>\n

Moreover, they highlighted \u201cdiminished tail risks after some clarifications on the policies to be adopted by the new government.\u201d<\/p>\n

\u201cThe new dividend policy is expected to be announced by the end of July, but in the meantime management has already mentioned it believes 25% payout on earnings is too low and also mentioned buybacks are an option,\u201d they wrote in a note.<\/p>\n

PBR shares are up almost 1% in pre-open Wednesday.<\/p>\n

Goldman has an $18.10 price target on PBR shares, which offers an upside potential of about 27%.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Brazilian oil giant Petrobras (PBR) raised at Goldman on attractive valuation Goldman Sachs analysts upgraded shares of\u00a0Petrobras (NYSE:) to Buy, despite the 50%+ (dividend-adjusted) year-to-date rally. The analysts still see an attractive valuation given that the company offers ~15% FCF yield in 2024-25E, compared to mid-high single digits for global majors. Moreover, they […]<\/p>\n","protected":false},"author":1,"featured_media":26193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-26192","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBrazilian oil giant Petrobras raised at Goldman on attractive valuation | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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