On Monday, Shares of Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR), remained flat at $9.10.
In a report published Monday, JPMorgan analysts Marcos Severine and Felipe Santos upgraded their rating on shares of Petroleo Brasileiro Petrobras SA (ADR) (NYSE: PBR) from Neutral to Overweight, fixing a price target of $10.50 (BRL18/sh for PETR4 and PETR3) for next year, according to Benzinga.
The experts continue to see this as a deleveraging story, “mostly dependent on Brent prices and FX rate.”
They believe a “more constructive and pragmatic approach” would be best in this case, as the company’s controlling shareholder — the Brazilian government — wants to improve investors’ perception of Petrobras. Benzinga Reports.
Petróleo Brasileiro S.A. Petrobras operates as an integrated energy company in Brazil and internationally. Its Exploration and Production segment engages in the exploration, development, and production of crude oil, natural gas liquids, and natural gas; and sale of crude oil and oil products produced at natural gas processing plants in domestic and foreign markets.
Shares of Reynolds American Inc. (NYSE:RAI), inclined 0.83% to $72.60, during its last trading session.
Reynolds American, has accomplished its acquisition of Lorillard, Inc. and related divestiture transactions. As a result of the acquisition, Lorillard is a wholly owned partner of RAI, and former Lorillard shareholders will own about 15 percent of RAI’s common stock.
RAI’s operating companies have key brands across major industry categories: Newport, Camel, Pall Mall and Natural American Spirit in combustible cigarettes; Grizzly in smokeless tobacco; and VUSE in the vapor market.
In the acquisition, former Lorillard shareholders will receive $50.50 in cash and 0.2909 of a share of RAI common stock for each share of Lorillard common stock they owned. In the related divestiture transactions, auxiliaries of RAI have sold the KOOL, Salem, Winston, Maverick and blu eCigs brands, and other assets and liabilities, to ITG Brands, LLC, a partner of Imperial Tobacco Group, PLC, for total consideration of about $7.1 billion in cash.
Additionally, British American Tobacco p.l.c. maintained its about 42 percent ownership in RAI through an equity investment of about $4.7 billion.
Reynolds American Inc., through its auxiliaries, manufactures and sells cigarettes and other tobacco products in the United States. It operates through RJR Tobacco, American Snuff, and Santa Fe segments.
Finally, Atmel Corporation (NASDAQ:ATML), ended its last trade with -0.80% loss, and closed at $9.92.
Atmel Corporation, was recently stated to be considering a sale.
Many Wall Street analysts like the company’s big presence in the overall microcontroller market. Some also believe the company will be a very important Internet of Things player due to the company’s leadership in sensors and the concept of “sensor hub.” Atmel also possesses key IP in memory, security and analog technologies, according to 24/7 Wall St.
The analysts at SunTrust Robinson Humphrey stated recently that they think the company is looking for a buyer, and they listed three reasons why they upgraded the stock to Buy recently:
- The revenue profile has dramatically de-risked.
- Margins are well on the way to a solid recovery.
- The retirement of the company’s CEO could very well signal a willingness to proceed with a sale of the company.
Atmel investors are paid a 1.65% dividend. The SunTrust price target for the stock is $12. The Thomson/First Call consensus price target is $9.49. The shares closed Thursday at $9.88. 24/7 Wall St. Reports.
Atmel Corporation designs, develops, manufactures, and sells semiconductor integrated circuit products primarily in the United States, Asia, Europe, South Africa, and Central and South America. It operates in four segments: Microcontroller, Nonvolatile Memory, Automotive, and Multi-Market and Other.
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