Why some time you are so negative NQ and some time you are so positive. I know you are holding lots of shares you said once. I am waiting for NQ to go 15 and I will wait. Good luck to you
Goldman Sachs keeps target, rating on Petrobras on outlook
Goldman Sachs Group Inc analysts led by Felipe Mattar maintained their price target and recommendations on common and preferred shares of Brazilian state-run oil company Petróleo Brasileiro SA, as uncertainty over trends in domestic fuel price policy, the nation's currency, and global oil prices offset an inexpensive valuation and expectations of output growth.
In a client note Thursday, Mattar and his team said the company, commonly known as Petrobras, "could face a complex decision in order to maintain its cash flows at sustainable levels under a potential currency weakening scenario - choosing among increasing domestic prices, cutting downstream and exploration capex, or accessing debt markets as well as structured finance solutions at higher costs."
Currently Petrobras is under fire amid investigation of a bribery and money-laundering scheme.
Mattar kept targets of 18 reais for the preferred shares and 17.1 reais for the common shares unaltered, along with a "neutral" recommendation.
Reuters) - The chief executive of Brazilian bank Bradesco SA will not be the country's next finance minister, a government official said on Thursday, after two local newspapers reported he turned down the job in a major setback for recently re-elected President Dilma Rousseff.
Luiz Carlos Trabuco is out of the running for the post, the official said on condition of anonymity. The official declined to confirm or deny that Trabuco had been offered the job.
Since Rousseff won a runoff vote on Oct. 26, she has yet to name a new finance minister for her second term. Brazil's economy is struggling with slow growth, high inflation and fallout from a growing corruption scandal at state-run oil company Petroleo Brasileiro SA.
Trabuco, the CEO of the country's second-largest private bank, was seen as a relatively market-friendly name who could have rebuilt ties with the private sector after years of frustration with Rousseff's leftist, interventionist policies.
Two Brazilian newspapers reported on Thursday that Trabuco was likely to turn down the invitation made by Rousseff due to his commitments with the bank.
Rousseff on Thursday dismissed reports that she had offered the job to Trabuco, but did not deny that she had made an offer.
"I never confirmed anything. You guys always get it wrong," Rousseff told local news agency Broadcast.
Rousseff is again considering central bank chief Alexandre Tombini and former deputy finance minister Nelson Barbosa to the job, Folha de Sao Paulo reported citing a source close to the president.
Both economists are close Rousseff aides and would represent a continuation of the leftist policies blamed for pushing Brazil into recession this year, analysts say.
Joaquim Levy, the head of Bradesco's investment arm, Bradesco Asset Management, has joined the race for the ministry, a government official told Reuters. Levy is a former Treasury chief who is respected by the market.
A spokesman for the president said earlier that there would be no announcement of a new finance minister on Thursday because Rousseff would attend the funeral of a former justice minister.
Brazil share prices rose this week on speculation that Rousseff would appoint Trabuco, 63, one of the few bankers who gets along with the president. Shares did not trade on Thursday due to a holiday in Sao Paulo.
During her re-election campaign, she lambasted rivals for having links to what she called greedy bankers who wanted to manage the economy for their benefit.
(Additional reporting by Luciana Otoni; Editing by Nick Zieminski and David Gregorio)
I just want PBR to move up higher from here and don't really care about all the politics in Brazil. This is the first time I invested in Brazil and hoping to get out without loosing any money. Lets see how it goes in coming weeks. Thanks.
How much you have lost in PBR and in the oher stocks, you sound like a big looser. Keep waiting for PBR to be ZERO
What is your honest opinion on holding NQ for coming months. My avg. is 11.25 and I just bought yesterday 1000 shares @ 7.10 Just don't feel lke to add more, I am holding and can wait for NQ to move up. Thanks for the update.