Petrobras downgraded to Hold at Jefferies on Brazil oil export tax

1 hour ago 1

TipRanks

Sat, March 14, 2026 astatine 8:39 AM CDT 1 min read

As antecedently reported, Jefferies expert Alejandro Anibal Demichelis downgraded Petrobras (PBR) to Hold from Buy with a price target of $19, down from $20.30, aft the Brazilian authorities announced a impermanent 12% lipid export taxation on with a chopped successful substance taxes and diesel subsidies to incorporate the inflationary interaction of the Iran war. While noting that Petrobras could offset portion of the export taxation by improving refining margins, the steadfast sees this quality materially removing its lipid terms leverage and quality to rise dividends, the expert tells investors.

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