maurim escribió: Y como digo siempre vendí las Nike y ahora quiero aprender a volar.
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Petrobras' investor day optimism overdone, two analysts say
Oct. 3, 2017 6:49 PM • SA Editor Carl Surran
Petrobras (NYSE:PBR) popped 4.5% in today's trade, perhaps helped by comments that seemed to indicate the possibility of taking the state-run company private in the future; energy minister Fernando Coelho Filho clarified today that privatization is not planned by Pres. Temer’s government.
In a presentation yesterday for analysts in New York, PBR reiterated its 2021 domestic liquids production target of 2.77M bbl/day - a projection Raymond James analyst Pavel Molchanov finds too optimistic since it equates to 6.5% annualized growth during 2017-21, vs. 6.5% growth during 2010-17; Molchanov "would be much more comfortable with a target of ~2.4M bbl/day, and we suspect that it will be revised down over the next 18-24 months."
Barclays analyst Paul Cheng rates PBR at Underweight and an $8 price target, saying the analyst day provided "no hints of major breakthroughs on important topics such as the transfer of rights negotiation or finding a partner for the downstream... positives in the reaffirmation of the lofty 2018 production growth goal and the announcement... of several billion dollars worth of pre-payments and refinancings were largely outweighed by lack of signal on progress elsewhere."