Repsol: Berenberg still a buyer after results
(CercleFinance.com) - Berenberg reinstates its "buy" rating on the Repsol share, along with its target price of 17 euros, after the Spanish oil company, "delivered a good set of Q3 results and more importantly, pointed to an even stronger Q4 to come".
The broker says, "Strong refining is the bright spot into year-end amid generally weak commodity prices and Repsol is one of the best positioned companies to benefit from this environment".
The Repsol share is currently up around 2% at just over 15 euros.
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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 says, "Strong refining is the bright spot into year-end amid generally weak commodity prices and Repsol is one of the best positioned companies to benefit from this environment".
The Repsol share is currently up around 2% at just over 15 euros.
Copyright (c) 2019 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.