Seeking Alpha

Petrobras' (PBR) lower than expected Q3 profit may raise concerns it is drifting, with...

Petrobras' (PBR) lower than expected Q3 profit may raise concerns it is drifting, with production stagnating, costs soaring and finding it hard to generate cash to fund its $237B expansion program. But Citi reiterates its Buy rating: PBR is increasingly a leveraged call on Brazil’s currency, and dividends will matter, with the majority of the yield likely coming in Q4.
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