Petrobras ADR Price Target Raised to $24.02, Implying About 6% Downside

what happened

Analysts covering Petrobras have raised their average 12-month price target for the company's ADRs to $24.02 from $23.52, according to a consensus compiled by FactSet. Estimates from 12 analysts range from $17.4 to $31 per share.

Based on the October 13 closing price, the new target implies roughly 6% downside. The consensus rating remains Buy across 18 covering analysts: 12 Buy, 5 Hold and 1 Sell.

For the local shares, eight analysts lifted their average target to BRL 76.86 from BRL 74.99. Forecasts span BRL 55 to BRL 93.9 per share, and the implied upside from the October 13 close is about 21%. Seven analysts cover the stock, and all of them rate it Buy.

why it matters

The two sets of estimates send opposite signals: the dollar-denominated ADR target sits below the latest price, while the target for local shares in reais sits well above it. Investors comparing the listings should account for currency moves and the date of the underlying data, and remember that analyst targets reflect opinions rather than forecasts of actual prices.

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