Petrobras. Investor Relations

Analysts Coverage

Learn the assessments made by market analysts about Petrobras and know who they are.


BAML: Frank J. McGann
(54 11) 4317-7650

Banco do Brasil: Daniel Cobucci
(55 11) 3149-8422

Barclays: Ian Gorman
(1 212) 526-7068

Bradesco: Vicente Falanga Neto
(55 11) 3847-9471

BTG Pactual: Thiago Duarte
(55 11) 3383-9850

Citigroup: Pedro Medeiros
(55 21) 3282-9960

Credit Suisse: Régis Cardoso
(55 11) 3701-6297

Goldman Sachs: Bruno Amorim
(55 11) 3371-0764

HSBC: Lilyanna Yang
(1 212) 525-0990

Itau BBA: André Hachem
(55 11) 3073-3005

JP Morgan: Rodolfo Angele
(55 11) 4950-3888

Macquarie: Giacomo Romeo
(44 20) 3037-4445

Morgan Stanley: Bruno Montanari
(55 11) 3048-6225

Nau Securities: Alejandro Demichelis
(44 20) 7947-5514

Raymond James: Pavel Molchanov
(1 713) 278-5270

Safra: Kaique Vasconcellos
(55 11) 3175-4369

Santander: Christian Audi
(1 212) 350-3991

Scotiabank: Gavin Wilye
(1 403) 213-7333

Societe Generale: John Herrlin
(1 212) 278-6851

UBS: Luiz Carvalho
(55 11) 2767 6606

XP: Gabriel Fonseca
(55 11) 4871-4375


The performance of Petrobras shares is accompanied by the analysts listed above. The opinions, estimates and forecasts regarding the company by those analysts do not represent the opinions, forecasts and estimates of Petrobras nor its managers.

Petrobras does not confirm the analyses by the above analysts, does not endorse their distribution, nor agrees with the information, conclusions and recommendations therein that are the full responsibility of their authors.

Analyst Forecasts

The consensus numbers refer to the average of the forecasted done by analysts.


Target Price
# of Investment Banks: 11
Consensus Target Price PETR3 (R$/share) Consensus Target Price PETR4 (R$/share)
Mean 30.16 Mean 30.54
Highest 42.20 Highest 39.50
Lowest 23.50 Lowest 23.50

Last Updated on September 30, 2020


Target Price
# of Investment Banks: 15
Consensus Target Price PBR (US$/ADR) Consensus Target Price PBR/A (US$/ADR)
Mean 12.94 Mean 11.54
Highest 17.50 Highest 15.00
Lowest 9.30 Lowest 9.30

Last Updated on September 30, 2020


Consensus estimates information has been provided by certain investment banking firms and other sources (the “sources”) and represents market forecasts. Petrobras and the sources offer no assurance regarding the completeness or exactness of this information. Such information is neither an offer to sell nor a solicitation to buy the securities of any company. Opinions expressed are subject to change without notice. Sources and their affiliates, subsidiaries, officers, directors, agents, and employees may have positions or interests in any of the securities discussed. Any source whose services are used in connection with the purchase or sale of a security discussed in such information may act as an agent in the transaction or as a principal for its own account. Periodically, the sources may act as manager, co-manager, or participant in a syndicate to distribute private placements or public offerings for companies discussed.

Last updated on April 3, 2020.