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PBR - Petrobras: Ignore The Noise Rely On Fundamentals
Petroleo Brasileiro S.A.- Petrobras
2024-05-14 23:40:50 ET
Summary
Petrobras' Q1 earnings missed estimates, causing a selloff, but I believe it is just noise as the company's profitability remains unparalleled, allowing to deleverage and keep shareholders happy.
PBR is increasing CAPEX to build long-term value for shareholders and has improved its financial position.
The company dominates Brazil's oil and gas sector and is poised for robust oil production in the coming years. The valuation is attractive with significant upside potential.
Investors face substantial political risks, underscored by the information that the CEO was fired by Brazil's president, but the upside potential outweighs all the risks.