Goldman Sachs Upgrades Statoil ASA (STO) to Neutral; Making Progress, But A Long Way To Go
Tweet Send to a FriendGet Alerts STO Hot Sheet
Price: $21.85 --0%
Rating Summary:
8 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 10 | New: 18
Rating Summary:
8 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 10 | New: 18
Trade STO Now!
Goldman Sachs upgraded Statoil ASA (NYSE: STO) from Sell to Neutral. PT raised from Nkr187 to Nkr197.
Analyst, Michele della Vigna, said, "We are removing Statoil from our Sell List and now rate the shares Neutral, following a period of share price underperformance. There is no major change to our long-term view of the company but after 3% underperformance vs. the sector, continued exploration success and strong production in Norway ytd, we do not see any more downside vs. the sector."
On the positive side, Vigna, think Statoil is making a lot of progress revitalizing its asset base and it's strategy will offer opportunities, but this will take time and near-term, STO will feel more capital intensive moves that are dilutive to shares.
For an analyst ratings summary and ratings history on Statoil ASA click here. For more ratings news on Statoil ASA click here.
Shares of Statoil ASA closed at $23.70 yesterday, with a 52 week range of $20.12-$28.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Michele della Vigna, said, "We are removing Statoil from our Sell List and now rate the shares Neutral, following a period of share price underperformance. There is no major change to our long-term view of the company but after 3% underperformance vs. the sector, continued exploration success and strong production in Norway ytd, we do not see any more downside vs. the sector."
On the positive side, Vigna, think Statoil is making a lot of progress revitalizing its asset base and it's strategy will offer opportunities, but this will take time and near-term, STO will feel more capital intensive moves that are dilutive to shares.
For an analyst ratings summary and ratings history on Statoil ASA click here. For more ratings news on Statoil ASA click here.
Shares of Statoil ASA closed at $23.70 yesterday, with a 52 week range of $20.12-$28.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: BofA/Merrill Lynch Upgrades Adobe (ADBE) to Buy
- UPDATE: BofA/Merrill Lynch Downgrades Cliffs Natural Resources (CLF) to Underperform
- Wells Fargo Upgrades Hewlett-Packard (HPQ) to Outperform; Number Of Potential Catalysts
Create E-mail Alert Related Categories
UpgradesRelated Entities
Goldman Sachs
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
