Tullow Oil: Canaccord adopts 'buy' rating

(CercleFinance.com) - Canaccord has adopted a "buy" rating on the Tullow Oil share, against "speculative buy" previously, having raised its corresponding target price from 260 pence to 280 pence, saying "We anticipate heavy newsflow emphasis on Guyana in 2020".


"We would not be surprised to see four/five wells on Orinduik alone in 2020 (one/two Jethro appraisals, one Jethro Channel exploration wells, one/two further exploration targets). Initial results from the Joe exploration well are expected in late September".


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