JPMorgan upgraded Petrobras to Overweight from Neutral with a price target of $18, up from $15.50. The firm cites the company’s “supportive” free cash flow and “discounted” valuation for the upgrade. JPMorgan updated estimates and established December 2025 price targets for the Latin America oil and gas sector, incorporating a more conservative scenario regarding oil prices, production curves, and margins. Despite this conservative outlook, it continues to see value in the oil and gas sector.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See Insiders’ Hot Stocks on TipRanks >>

Read More on PBR:

• Petrobras upgraded to Outperform from Market Perform at Itau BBA

• Petrobras Announces Shareholder Dividend Payments

• Petrobras Refutes Rumors of Fuel Price Cuts

• Petrobras price target raised to $18.50 from $17.90 at BofA

• Petrobras Completes $1 Billion Notes Offering