financetom
Personal Finance
financetom
/
Personal Finance
/
Research Alert: CFRA Keeps Sell Opinion On Adss Of Petroleo Brasileiro S.a.
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Research Alert: CFRA Keeps Sell Opinion On Adss Of Petroleo Brasileiro S.a.
May 15, 2024 7:57 AM

10:30 AM EDT, 05/15/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price of $14, up $1, reflects a 5.2x multiple of enterprise value to projected 2025 EBITDA, slightly below U.S. integrated oil peers, on concerns that weak capital allocation policies are on the horizon. We cut our 2024 earnings per ADS estimate by BRL1.36 to BRL17.48 and lift 2025's by BRL0.94 to BRL16.04. Q1 earnings per ADS of BRL3.65 vs. BRL5.85, missed consensus by BRL0.31. Shares are under pressure today, with Reuters noting that CEO Jean Paul Prates has been asked to step down by Brazil's President Lula. Prates is apparently being replaced by Magda Chambriard, former head of Brazil's energy agency ANP from 2012 to 2016. On the one hand, Chambriard has an engineering background, which we think is a plus. However, we believe the move stems from an effort by Lula to use PBR in a populist fashion, which runs the risk of 1) capital allocation into low-return project boondoggles, 2) lower dividend growth, and 3) renewed subsidies for refined products.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Research Alert: CFRA Reiterates Buy Opinion On Shares Of Amrize Ag
Research Alert: CFRA Reiterates Buy Opinion On Shares Of Amrize Ag
Jul 15, 2025
01:00 AM EDT, 07/16/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We maintain our Buy rating on AMRZ, due to a compelling valuation opportunity as the stock trades at a severe discount to peers despite comparable end-market exposure and superior competitive...
Research Alert: CFRA Maintains Buy Opinion On Shares Of First Horizon Corporation
Research Alert: CFRA Maintains Buy Opinion On Shares Of First Horizon Corporation
Jul 16, 2025
11:25 AM EDT, 07/16/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We increase our 12-month target price by $6 to $28, applying a forward P/E of 14.3x our 2026 EPS estimate, a premium to the peer average of 12.7x, as the...
Research Alert: CFRA Keeps Buy Opinion On Shares Of Progressive Corp.
Research Alert: CFRA Keeps Buy Opinion On Shares Of Progressive Corp.
Jul 16, 2025
10:00 AM EDT, 07/16/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: PGR posted Q2 operating EPS of $4.88 vs. $2.65 a year ago, topping our $3.50 estimate and the $4.43 consensus on 8% earned premium growth. YTD written premiums rose 15%,...
Research Alert: CFRA Reiterates Strong Buy Opinion On Shares Of The Goldman Sachs Group, Inc.
Research Alert: CFRA Reiterates Strong Buy Opinion On Shares Of The Goldman Sachs Group, Inc.
Jul 16, 2025
10:55 AM EDT, 07/16/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: With stellar performance in the first half of 2025 and our positive outlook for the bank, we are raising our 12-month target price by $55 to $795. Our target is...
Copyright 2023-2026 - www.financetom.com All Rights Reserved