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home / news releases / PBR - Petrobras: Don't Overstate The Lula Risk

PBR - Petrobras: Don't Overstate The Lula Risk

Petroleo Brasileiro S.A.- Petrobras

2024-06-24 12:09:31 ET

Summary

  • Petrobras investors were stunned again as the market sent PBR into a bear market.
  • The dismissal of PBR's ex-CEO has intensified concerns about interference by the Lula administration.
  • Investors will likely take time to assess PBR's new top leadership team.
  • Despite that, the market isn't dumb, as PBR is still very cheap.
  • I explain why dip-buyers have likely returned, suggesting PBR seems to be bottoming. Read on.

Petrobras: Fears Returned As Lula Intervenes

Petróleo Brasileiro S.A. - Petrobras ( PBR ) investors have endured a series of significant market volatility as Brazil's leading integrated oil company underwent top management changes. As a reminder, ex-CEO Jean Paul Prates and his CFO were dismissed after Petrobras's Q1 earnings release ....

For further details see:

Petrobras: Don't Overstate The Lula Risk
Stock Information
Company Name: Petroleo Brasileiro S.A.- Petrobras
Stock Symbol: PBR
Market: NYSE
Website: petrobras.com.br
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