Repsol: Morgan Stanley recommends investors 'overweight' sha
(CercleFinance.com) - Morgan Stanley still recommends investors "overweight" Repsol shares following a "reassuring" analyst day by the Spanish oil firm.
The broker - which has a 20.8 euro price target for the stock - found that its analyst day on 6 June was reassuring regarding the group's dividend priority as well as on the use of the 3.4 billion euros of proceeds from the sale of GasNat.
"We continue to see 27% total shareholder return from current levels, with 21% upside to 20.80 euros price target plus 5.8% yield, rising dividends and upside risk from further buybacks."
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker - which has a 20.8 euro price target for the stock - found that its analyst day on 6 June was reassuring regarding the group's dividend priority as well as on the use of the 3.4 billion euros of proceeds from the sale of GasNat.
"We continue to see 27% total shareholder return from current levels, with 21% upside to 20.80 euros price target plus 5.8% yield, rising dividends and upside risk from further buybacks."
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.