Mantanari写道，巴西石油公司股价自今年早些时候峰值以来下跌了17%，在过去的五个月里一直基本持平，但由于波动性高，加上公司管理层的变动，纷繁的噪音料将逐渐消散，可能会消除一些波动性因素。On Monday, Morgan Stanley upgraded the rating of Petroleo Brasileiro SA Petrobras stock (PBR.US) from 'hold' to 'shareholding', and raised the target price from $18 to $20. The stock rose by 8.9%.
According to the Zhitong Finance app, Morgan Stanley upgraded the rating of Petroleo Brasileiro SA Petrobras stock (PBR.US) from 'hold' to 'shareholding', and raised the target price from $18 to $20 on Monday. The stock rose by 8.9%. Morgan Stanley said that the company's cash flow is very strong and it can maintain dividend distribution even in a challenging market environment.
Morgan Stanley analyst Bruno Mantanari said he 'firmly believes' that Petroleo Brasileiro SA Petrobras has the best offshore oil assets in the industry, as well as 'unparalleled' well productivity and lower capital and production costs. However, compared to global peers, its key difference lies in its strong cash generation ability, which will provide 'sufficient funding for dividends in the future years'.
Mantanari wrote that Petroleo Brasileiro SA Petrobras stock price has fallen 17% since its peak earlier this year and has remained relatively flat over the past five months. However, with high volatility and changes in company management, the noise and volatility factors are expected to gradually dissipate.
The analyst stated that the information conveyed in recent conference calls and meetings by the new CEO and CFO has led him to believe that as long as the company has sufficient cash available, it should maintain strategic continuity and responsibly increase investment and dividend distribution.