2024-05-15 11:08:24 ET
Summary
- Petrobras has sold off after the CEO was reportedly ousted by President Lula, raising concerns about the company's future.
- Weak Q1 results and lower production levels also contributed to the stock's decline.
- Despite the political risk, the stock is still considered a buy due to its fair valuation and technical set-up.
- Political risks seem overblown and partly illogical.
Thesis Summary
Petróleo Brasileiro S.A. - Petrobras ( PBR ) has sold off today after the CEO was reportedly ousted by President Lula ....
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For further details see:
Petrobras: Buying The Lula Dip Hand Over Fist