Deutsche Bank Reinstates Coverage on Statoil ASA (STO) at Buy (from Hold); Expect Active Year

Deutsche Bank reinstates coverage on Statoil ASA (NYSE: STO) with a Buy (from Hold). PT raised from NOK160 to NOK180.

Deutsche analyst said, "Over the past 12m Statoil has participated in six “high-impact” discoveries transforming the 2015+ growth potential of the business. Revising our valuation to better reflect the value of 2011 discoveries and place an early marker on the 2012 successes we argue that the market has yet to fully recognize the significance of these assets. As the next 12-18 months unfolds we look to appraisal of discoveries, an active exploration campaign, volume growth and oil price exposure to drive upside."

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 $28.68 yesterday.

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