Petrobras rallies as Goldman goes bullish, with policies less onerous than feared

truck enters Petrobras gas station

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Petrobras (NYSE:PBR) +5.2% in Wednesday’s trading as Goldman Sachs upgraded the stock to Buy from Hold with an $18 price target, citing solid operational delivery, a strong growth outlook and a “cheap” valuation despite its 50%-plus YTD rally.

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