Bruno Montanari

Morgan Stanley’s Bruno Montanari upgraded the rating for Petroleo Brasileiro SA Petrobras (ADR) (NYSE: PBR) from Underweight to Equal-weight, while raising the price target from $2 to $5.60. Although Petrobas’ fundamentals have not improved as yet and its balance sheet continues to...

In a report published Thursday, Morgan Stanley analyst Bruno Montanari commented on Petroleo Brasileiro Petrobras SA (NYSE: PBR)'s fourth quarter 2014 results which proved to be a "non-event." Montanari noted that contrary to the prior guidance of neutral free cash flow to firm (FCFF) generation,...

In a report published Friday, Morgan Stanley analyst Bruno Montanari reiterated an Overweight rating and $50.00 price target on YPF SA (NYSE: YPF). In the report, Morgan Stanley noted, “YPF announced it signed a term sheet with Petronas to invest up to US$550M in the development of a pilot project...

In a report published Monday, Morgan Stanley analyst Bruno Montanari reiterated an Equal-Weight rating and $16.00 price target on Petroleo Brasileiro Petrobras SA (NYSE: PBR). In the report, Morgan Stanley noted, “We agree with most of PBR's senior management statements on the attractiveness of the...

In a report published Wednesday, Morgan Stanley analyst Bruno Montanari downgraded the rating on Petroleo Brasileiro Petrobras SA (NYSE: PBR) from Overweight to Equal-Weight, and lowered the price target from $17.00 to $16.00. In the report, Morgan Stanley noted, “The decision of the government to...

In a report published Wednesday, Morgan Stanley analyst Bruno Montanari reiterated an Overweight rating on Petrobras (NYSE: PBR), but removed the $19.50 price target. In the report, Morgan Stanley noted, “Normalized results were slightly better than our model, but we focus on the LT strategic plan...

In a report published Thursday, Morgan Stanley analyst Bruno Montanari reiterated an Overweight rating and $49.00 price target on YPF SA (NYSE: YPF). In the report, Morgan Stanley noted, “Although the timing for an acquisition could be questionable due to the turmoil in Argentina's economy, the...

In a report published Friday, Morgan Stanley analyst Bruno Montanari maintained an Overweight rating on YPF SA (NYSE: YPF), with a $49.00 price target. According to the report, YPF's sell-off reflects perceived risk from the sharp weakening of Argentina's currency. But the ARS is still within our...

In a report published Monday, Morgan Stanley analyst Bruno Montanari initiated coverage on YFA SA (NYSE: YPF) with Overweight and a $50.00 price target. According to the report, a better than 2:1 bull:bear skew on YPF is seen, but the analysts call is geared to investors with a LT horizon....

In a report published Tuesday, Morgan Stanley analyst Bruno Montanari reiterated an Overweight rating and $20.80 price target on Petrobras (NYSE: PBR). In the report, Morgan Stanley noted, “While nothing really new came out of the meeting, PBR's senior management initiative to have a close and...