Galp Energia upgraded to Neutral from Sell at Goldman Sachs. Goldman Sachs Michele della Vigna upgraded Galp Energia to Neutral citing valuation following the recent underperformance of the shares. The analyst says production and EBITDA expectations for 2019 and 2020 have now been reset.
Galp Energia upgraded to Buy from Sell at Deutsche Bank. Deutsche Bank analyst Lucas Herrmann double upgraded Galp Energia to Buy from Sell and raised his price target for the shares to EUR 16 from EUR 14. The analyst expects "strong" deep water-driven production momentum combined with a stronger than anticipated outlook for the company's refining business in 2019.
Galp Energia downgraded to Sell from Hold at Deutsche Bank. Deutsche Bank analyst Yuriy Kukhtanych downgraded Galp Energia to Sell and lowered his price target for the shares to EUR 14 from EUR 16. The analyst views the company's downstream business as the "most disadvantaged" in his coverage universe.
Galp Energia downgraded to Neutral from Overweight at JPMorgan. JPMorgan analyst Matthew Lofting downgraded Galp Energia to Neutral and lowered his price target for the shares to EUR 18 from EUR 18.50.