Repsol: share boosted by a broker upgrade
(CercleFinance.com) - The Repsol share is one of the biggest risers in the IBEX 35 Index in Madrid on Wednesday, after Barclays upgraded its rating, now believing that the share is now pretty much trading at its "fair value".
The share was up 1.8% in the early afternoon trading, easily outperforming the market in Madrid (up around 0.3%).
The British bank said it considers the strategic update to be held by the Spanish energy group in November as "particularly important" - especially concerning the use of its cash in the currently difficult environment.
After the share's underperformance over the past 12 months, with it posting the worst performance in its sector, its downside potential now appears limited, Barclays says, which has upgraded its rating for the share to "equal weight" versus "underweight" previously, while maintaining a target price of 10 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 share was up 1.8% in the early afternoon trading, easily outperforming the market in Madrid (up around 0.3%).
The British bank said it considers the strategic update to be held by the Spanish energy group in November as "particularly important" - especially concerning the use of its cash in the currently difficult environment.
After the share's underperformance over the past 12 months, with it posting the worst performance in its sector, its downside potential now appears limited, Barclays says, which has upgraded its rating for the share to "equal weight" versus "underweight" previously, while maintaining a target price of 10 euros.
Copyright (c) 2020 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.