JPMorgan Raises Petrobras Price Target to $24.00, Upside Potential Hits 18.72%

Petroleo Brasileiro S.A.- Petrobras (NYSE:PBR) has had its price target increased by JPMorgan Chase & Co. from $23.00 to $24.00 in a research report issued on Tuesday.

The brokerage currently has an 'overweight' rating on the oil and gas exploration company's stock, indicating a potential upside of 18.72% from the company's previous close of $20.21.

This is not the only view on Petrobras, as Zacks Research lowered shares of the company from a 'hold' rating to a 'strong sell' rating in a report on July 7th.