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.
A consortium which includes BP (BP) and Kosmos Energy (KOS) has secured exploration rights to two offshore blocks in Sao Tome and Principe's exclusive economic zone, Reuters reports, citing the national oil agency. The companies have won blocks 10 and 13 in a restricted tender beating a second consortium composed of Galp Energia (GLPEY) and Total (TOT). Reference Link