Caiman Valores
Contrarian, long-term horizon, research analyst, value

Petrobras Currently Represents Value For Investors But Is Still High Risk

I last reviewed South America's second-largest energy company by market capitalization, Brazil's Petrobras (NYSE:PBR) in June 2012, and since then its share price has plumbed new lows. Its share price has fallen by 51%, trading at the time of writing at around $15, and it recently hit a new 52-week low on the 26th of February of $14.59 per share. This has seen it lose its title as South America's largest energy company by market capitalization, having been surpassed by the Colombian government-controlled Ecopetrol (NYSE:EC). Much of this sell-down is related to the heightened political and economic risks associated with investing in Petrobras. These arise from the ongoing interference of the Brazilian government in the

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