What changed
$PBR — BUY 📊 | 6 MONTHS THESIS
🎯 latest | Rev $43.8B | EPS $0.96 vs $0.99 🔴
💡 Consensus expects political interference to destroy shareholder returns, modeled via a persistent conglomerate discount and assumed dividend cuts. We see the Lula administration as pragmatic on energy, recent dividend policy intact, and near-term cash flows sufficient to support high payouts.
📉 Reward/risk: 2.2:1
🏢 Business Quality: 6/10
📊 Valuation: cheap — trading at ~4x forward P/E and ~2.5x EV/EBITDA, deeply below global integrated oil peers (10–15x P/E, 5–7x EV/EBITDA).
🔮 Catalyst: Next quarterly dividend declaration (Q1 2025 expected in May) or strong pre-salt production data
💰 Entry: $16.75, stop $15.5, target $19.5
📊 Our read: BUY. Full analysis →
https://stockduty.xyz/s/PBR0619