Repsol: UBS still a buyer after EIG deal
(CercleFinance.com) - UBS maintains its buy rating on the Repsol stock, with an unchanged target price of 17.
5 euros after the Spanish oil group announced the sale of a stake in its Upstream unit.
"Repsol announces sale of 25% stake in Upstream unit for $4.8bn Repsol today announced that it has agreed to sell a 25% stake in its exploration and production unit to EIG," says UBS.
EIG is an American investor specialising in the energy and infrastructure sectors.
This investment will enable the Spanish energy group to accelerate its growth in renewable energy, sustainable fuels and circular resource management.
This investment values the Repsol Upstream division, which includes Repsol's oil and gas exploration and production (E&P) activities, at around 19 billion dollars.
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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.
5 euros after the Spanish oil group announced the sale of a stake in its Upstream unit.
"Repsol announces sale of 25% stake in Upstream unit for $4.8bn Repsol today announced that it has agreed to sell a 25% stake in its exploration and production unit to EIG," says UBS.
EIG is an American investor specialising in the energy and infrastructure sectors.
This investment will enable the Spanish energy group to accelerate its growth in renewable energy, sustainable fuels and circular resource management.
This investment values the Repsol Upstream division, which includes Repsol's oil and gas exploration and production (E&P) activities, at around 19 billion dollars.
Copyright (c) 2022 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.