Goldman Sachs Upgrades Statoil ASA (STO) to Neutral; Making Progress, But A Long Way To Go
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Price: $27.14 --0%
Rating Summary:
6 Buy, 12 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 12 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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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.
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.
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