CA - Petrobras: This Is Not The End
2024-01-28 12:00:00 ET
Summary
- Petrobras shares have outperformed the broader market since late August, delivering a total return of ~25% compared to ~9%.
- The company is expected to generate decent returns and pay dividends even in the current environment in which oil supply is abundant.
- Petrobras stock remains a solid investment due to its low breakeven price, rising oil production, and undervaluation compared to peers.
Petrobras’s ( PBR )( PBR.A ) shares continue to exceed expectations and outperform the broader market. Back in August, I published a major update on the company after initially giving it a BUY rating more than a year ago, where I stated that most of the political risks that hammered the stock in the past were overblown and a bright future awaits the company. ...
Petrobras: This Is Not The End