Paul Cheng

In a report released Friday, Barclays analyst Paul Cheng upgrades Petroleo Brasileiro Petrobras SA (NYSE: PBR) from Equal-Weight to Overweight and raised its price target from $22 to $23. Cheng said that Petroleo will benefit from the upcoming Brazilian presidential elections in October....

In a report published Friday morning, Barclays analyst Paul Cheng downgraded Exxon Mobil (NYSE: XOM) from Equal-weight to Underweight, but raised the price target from $100 to $105. The downgrade comes amid beliefs that the company will face near-term headwinds due to a lack of production...