Why Petrobras (PBR) Stock Is Higher Today

NEW YORK (TheStreet) -- Shares of Petrobras-Petroleo Brasilier (PBR) are up 6.93% to $14.66 as support for Brazilian President Dilma Rousseff continues to slip, according to a new opinion poll. 

Voters are displeased with the country's poor economy which Rousseff reportedly can't explain.

Brazil's real rose for a third straight day in the longest stretch of increases in almost a month as a poll added to speculation that Presiden Roisseff will face a runoff after the October election, Bloomberg reports.

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The Ibovespa Brasil Sao Paulo Stock Exchange Index is up 2.89% today.

TheStreet Ratings team rates PETROBRAS-PETROLEO BRASILIER as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate PETROBRAS-PETROLEO BRASILIER (PBR) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, poor profit margins and weak operating cash flow."

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