Morgan Stanley upgraded shares of Petróleo Brasileiro S.A. – Petrobras ( NYSE:PBR – Get Rating ) from an equal weight rating to an overweight rating in a report published on Wednesday, The Fly reports. The firm currently has $16.50 price target on the oil and gas exploration company's stock, up from their previous price target of $12.50. Separately, StockNews.com cut shares of Petróleo Brasileiro S.A. – Petrobras from a buy rating to a hold rating in a research report on Thursday, June 1st.

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