Petróleo Brasileiro S.A. (PBR) Gets Downgraded to Hold From Buy by Jefferies – Here’s Why

Core Viewpoint - Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is currently considered one of the most undervalued energy stocks, with mixed ratings from analysts following recent government policy changes affecting the oil sector [1][2]. Group 1: Analyst Ratings and Price Targets - Jefferies downgraded Petrobras from Buy to Hold on March 13, reducing the price target from $20.30 to $19 due to a new 12% oil export tax imposed by the Brazilian government [1]. - HSBC raised its price target for Petrobras from $16 to $20 while maintaining a Buy rating, citing upside risks to oil prices [2]. Group 2: Company Operations - Petrobras is engaged in exploration, production, and distribution of oil and gas, with operations segmented into Exploration and Production, Refining, Transportation, and Marketing, and Gas and Low Carbon Energies [3].