Goldman Sachs keeps USD 24.30 target for Petrobras stock

Published on 10/26/2026 at 17:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Goldman Sachs kept Buy on October 21, 2026. Petrobras stock costs EUR 19.53 on October 26, 2026, up 13.55 percent versus Frankfurt close.

Analyst target and quarterly figures

Goldman Sachs maintained a Buy rating and USD 24.30 target on October 21, 2026.
Petrobras revenue reached USD 33.61 billion in the second quarter of 2026.
Petrobras stock costs EUR 19.53 at Lang & Schwarz on October 26, 2026 at 5:43 p.m. CET, 13.55 percent above the Frankfurt close of October 26, 2026.

PBR, US71654V4086, Illustration mit AI erstellt.

Goldman Sachs maintained a Buy rating and a USD 24.30 price target for Petrobras in a report issued on October 21, 2026, according to Business Insider. The target was 11.47 percent above the USD 21.80 primary-exchange price at the time of the market quote. Petrobras stock was trading at EUR 19.53 at Lang & Schwarz on October 26, 2026 at 5:43 p.m. CET, up 13.55 percent versus the Frankfurt close of EUR 17.20 on October 26, 2026.

Second-quarter revenue reached USD 33.61 billion

Petrobras generated USD 33.61 billion in revenue during the second quarter of 2026 and reported consolidated net income of USD 10.44 billion. The net profit margin was 31.06 percent for the same period, while operating cash flow reached USD 12.25 billion. These figures give the Goldman Sachs target a fundamental backdrop beyond the current quotation.

Petrobras stock trades near its session high

The Frankfurt quotation ranged from EUR 17.20 to EUR 19.75 on October 26, 2026. Petrobras stock therefore stood EUR 0.22 below that session high while the Lang & Schwarz price remained EUR 2.33 above the Frankfurt close. The current euro quotation and the Frankfurt session range describe a sharp intraday repricing, but they do not replace the separate USD valuation used by Goldman Sachs.

Results dates and valuation matter next

Petrobras had a market capitalization of USD 140.5 billion, a price-to-earnings ratio of 5.70 and a trailing dividend yield of 6.00 percent as of October 26, 2026. The company is scheduled to publish its third-quarter production and sales report on October 28, 2026, and its third-quarter financial results on November 10, 2026, according to StockTitan. Both releases were scheduled after the market close.

Comparison with peers

As of October 26, 2026, Petrobras had a 13.55 percent gain versus its Frankfurt close, a price-to-earnings ratio of 5.70 and a USD 140.5 billion market capitalization.

Exxon Mobil Corporation (NYSE, USD): up 0.38 percent, price-to-earnings ratio 23.65, market capitalization USD 756.2 billion. Chevron Corporation (NYSE, USD): down 0.37 percent, price-to-earnings ratio 22.28, market capitalization USD 459.1 billion.

Goldman target contrasts with euro volatility

For investors, the key contrast is between the USD 24.30 target and the sharp movement in the euro quotation. The next production update and quarterly results provide two dated checkpoints for testing the operating figures behind the valuation.

Petrobras stock was trading at EUR 19.53 at Lang & Schwarz on October 26, 2026 at 5:43 p.m. CET, 13.55 percent above the Frankfurt close of EUR 17.20 on October 26, 2026. The further course of trading is shown by the continuously updated real-time quote of Petrobras stock.