Tullow Oil: Jefferies downgrades 'buy' rating

(CercleFinance.com) - Jefferies downgrades its rating on the British Tullow Oil share from "buy" to "hold," having trimmed its corresponding target being from 250 pence to 245 pence.


"Ghana production remains the most positive element of current operations but with both Uganda & Kenya FID timings still uncertain, Tullow needs a new material, commercial asset to drive the stock," the broker says.


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.