| Goldman Sachs |
Henry Morris |
€ 15.600 |
Buy |
08 Feb 2012 |
Summary of the last study published by this analyst
Goldman Sachs raised its price target for Galp Energia from €15.5 to €15.6, maintaining a Buy recommendation. The analyst incorporated new estimates following its updated outlook for the Oil&Gas industry.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Goldman Sachs | Henry Morris | € 15.600 | Buy | 08 Feb 2012 | | Goldman Sachs | Henry Morris | € 15.500 | Buy | 12 Dec 2011 | | Goldman Sachs | Henry Morris | € 16.500 | Buy | 11 Nov 2011 | | Goldman Sachs | Henry Morris | € 19.400 | Buy | 28 Oct 2011 | | Goldman Sachs | Henry Morris | € 20.100 | Buy | 04 Oct 2011 | | Goldman Sachs | Henry Morris | € 19.300 | Buy | 27 Sep 2011 | | Goldman Sachs | Henry Morris | € 20.000 | Buy | 29 Jul 2011 | | Goldman Sachs | Henry Morris | € 20.400 | Buy | 21 Jul 2011 | | Goldman Sachs | Henry Morris | € 20.700 | Buy | 05 Jul 2011 | | Goldman Sachs | Henry Morris | € 18.800 | Buy | 14 Jun 2011 | | Goldman Sachs | Henry Morris | € 16.100 | Neutral | 18 Apr 2011 | | Goldman Sachs | Henry Morris | € 16.700 | Neutral | 14 Feb 2011 | | Goldman Sachs | Henry Morris | € 16.800 | Neutral | 27 Jan 2011 | | Goldman Sachs | Henry Morris | € 16.600 | Neutral | 07 Dec 2010 | | Goldman Sachs | Henry Morris | € 16.200 | Neutral | 02 Dec 2010 | | Goldman Sachs | Henry Morris | € 15.300 | Neutral | 02 Nov 2010 | | Goldman Sachs | Henry Morris | € 14.900 | Neutral | 29 Oct 2010 | | Goldman Sachs | Henry Morris | € 14.700 | Neutral | 13 Oct 2010 | | Goldman Sachs | Henry Morris | € 15.350 | Neutral | 26 Aug 2010 | | Goldman Sachs | Henry Morris | € 15.500 | Neutral | 22 Jun 2010 | | Goldman Sachs | Henry Morris | € 15.200 | Neutral | 02 Jun 2010 | | Goldman Sachs | Henry Morris | € 15.200 | Buy | 10 May 2010 | | Goldman Sachs | Henry Morris | € 15.000 | Buy | 29 Apr 2010 | | Goldman Sachs | Henry Morris | € 16.400 | Neutral | 19 Apr 2010 | | Goldman Sachs | Henry Morris | € 14.800 | Neutral | 22 Feb 2010 | | Goldman Sachs | Henry Morris | € 12.300 | Sell | 25 Sep 2009 | | Goldman Sachs | Henry Morris | € 10.300 | Sell | 04 Jun 2009 | | Goldman Sachs | Henry Morris | € 10.500 | Neutral | 31 Mar 2009 | | Goldman Sachs | Henry Morris | € 9.200 | Neutral | 12 Dec 2008 | | Goldman Sachs | Henry Morris | € 10.200 | Neutral | 21 Nov 2008 | | Goldman Sachs | Henry Morris | € 11.400 | Neutral | 13 Oct 2008 | | Goldman Sachs | Henry Morris | € 15.800 | Neutral | 17 Sep 2008 | | Goldman Sachs | Henry Morris | € 14.900 | Neutral | 02 Sep 2008 | | Goldman Sachs | Henry Morris | € 14.000 | Neutral | 23 Jul 2008 | | Goldman Sachs | Henry Morris | € 19.200 | Neutral | 18 Jun 2008 | | Goldman Sachs | Henry Morris | € 19.000 | Neutral | 21 May 2008 | | Goldman Sachs | Henry Morris | € 18.400 | Neutral | 16 May 2008 |
|
| BPI |
Bruno Almeida da Silva |
€ 18.400 |
Buy |
07 Feb 2012 |
Summary of the last study published by this analyst
BPI has changed its price target for Galp Energia, from €18.60 to € 18.40, while maintaining a Buy recommendation. The analyst has incorporated a poorer assessment for the R&M business in anticipation of lower benchmark margins and considering a delay in the upgrade project start for the second half of 2012. This lower assessment was not completely offset by the increase on the estimates for E&P and G&P businesses.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| BPI | Bruno Almeida da Silva | € 18.400 | Buy | 07 Feb 2012 | | BPI | Bruno Almeida da Silva | € 18.600 | Buy | 24 Nov 2011 | | BPI | Bruno Almeida da Silva | € 18.600 | Accumulate | 14 Nov 2011 | | BPI | Bruno Almeida da Silva | € 20.400 | Accumulate | 11 Nov 2011 | | BPI | Bruno Almeida da Silva | € 20.400 | Buy | 01 Jun 2011 | | BPI | Bruno Almeida da Silva | € 16.400 | Accumulate | 17 May 2011 | | BPI | Bruno Almeida da Silva | € 17.150 | Accumulate | 15 Feb 2011 | | BPI | Bruno Almeida da Silva | € 16.100 | Accumulate | 22 Nov 2010 | | BPI | Bruno Almeida da Silva | € 15.800 | Buy | 12 Apr 2010 | | BPI | Bruno Almeida da Silva | € 15.450 | Buy | 22 Feb 2010 | | BPI | Bruno Almeida da Silva | € 13.350 | Hold | 02 Nov 2009 | | BPI | Bruno Almeida da Silva | € 13.500 | Accumulate | 29 Sep 2009 | | BPI | Bruno Almeida da Silva | € 12.000 | Accumulate | 27 Apr 2009 | | BPI | Bruno Almeida da Silva | € 9.600 | Buy | 30 Oct 2008 | | BPI | Bruno Almeida da Silva | € 17.300 | Buy | 11 Jul 2008 | | BPI | Bruno Almeida da Silva | € 17.050 | Hold | 18 Apr 2008 | | BPI | Enrique Soldevila Manrique | € 14.200 | Hold | 15 Nov 2007 | | BPI | Enrique Soldevila Manrique | € 7.600 | Hold | 17 May 2007 | | BPI | Enrique Soldevila Manrique | € 7.550 | Accumulate | 14 Mar 2007 | | BPI | Enrique Soldevila Manrique | € 6.400 | Hold | 11 Jan 2007 |
|
| Bank of America Merrill Lynch |
Hootan Yazhari |
€ 21.500 |
Buy |
03 Feb 2012 |
Summary of the last study published by this analyst
Merrill Lynch has changed its price target for Galp Energia, from €22.7 to €21.5, maintaining a Buy recommendation. This revision derives from the incorporation of new estimates of the analyst on his assessment.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Bank of America Merrill Lynch | Hootan Yazhari | € 21.500 | Buy | 03 Feb 2012 | | Bank of America Merrill Lynch | Hootan Yazhari | € 22.700 | Buy | 14 Nov 2011 | | Bank of America Merrill Lynch | Hootan Yazhari | € 23.800 | Buy | 21 Oct 2011 | | Bank of America Merrill Lynch | Hootan Yazhari | € 23.000 | Buy | 01 Jul 2011 | | Bank of America Merrill Lynch | Hootan Yazhari | € 20.000 | Buy | 08 Mar 2011 | | Bank of America Merrill Lynch | Hootan Yazhari | € 19.000 | Buy | 14 Feb 2011 | | Bank of America Merrill Lynch | Hootan Yazhari | € 18.300 | Buy | 03 Nov 2010 | | Bank of America Merrill Lynch | Hootan Yazhari | € 17.000 | Buy | 26 Feb 2010 | | Bank of America Merrill Lynch | Hootan Yazhari | € 16.500 | Buy | 19 Feb 2010 | | Bank of America Merrill Lynch | Hootan Yazhari | € 15.000 | Buy | 13 Nov 2009 | | Bank of America Merrill Lynch | Hootan Yazhari | € 14.000 | Buy | 28 May 2009 | | Bank of America Merrill Lynch | Alastair Syme | € 12.000 | Buy | 26 Nov 2008 | | Bank of America Merrill Lynch | Alastair Syme | € 14.000 | Buy | 23 Oct 2008 | | Bank of America Merrill Lynch | Alastair Syme | € 16.000 | Buy | 02 Oct 2008 | | Bank of America Merrill Lynch | Alastair Syme | € 20.000 | Buy | 23 May 2008 | | Bank of America Merrill Lynch | Alastair Syme | € 19.000 | Buy | 21 May 2008 | | Bank of America Merrill Lynch | Hootan Yazhari | € 17.500 | Buy | 13 Dec 2007 | | Bank of America Merrill Lynch | Hootan Yazhari | € 16.000 | Buy | 09 Nov 2007 | | Bank of America Merrill Lynch | Hootan Yazhari | € 13.600 | Buy | 25 Jul 2007 | | Bank of America Merrill Lynch | Hootan Yazhari | € 11.200 | Buy | 27 Jun 2007 | | Bank of America Merrill Lynch | Hootan Yazhari | € 10.300 | Buy | 08 Jun 2007 | | Bank of America Merrill Lynch | Hootan Yazhari | € 9.500 | Buy | 18 May 2007 | | Bank of America Merrill Lynch | Hootan Yazhari | € 8.800 | Buy | 22 Mar 2007 |
|
| Tudor, Pickering, Holt & Co. |
Anish Kapadia |
€ 17.000 |
Hold |
13 Jan 2012 |
Summary of the last study published by this analyst
Tudor, Pickering, Holt & Co, through a report issued today, has revised its price target for Galp Energia from €15 to €17, while maintaining a Hold recommendation. This upward revision reflects updated assumptions for EUR/USD, changing from 1.40 to 1.30, and higher estimates for reserves and wells productivity of the pre-salt Santos basin.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Tudor, Pickering, Holt & Co. | Anish Kapadia | € 17.000 | Hold | 13 Jan 2012 | | Tudor, Pickering, Holt & Co. | Anish Kapadia | € 15.000 | Hold | 11 Nov 2011 | | Tudor, Pickering, Holt & Co. | Anish Kapadia | € 15.000 | Trim | 20 Jul 2011 | | Tudor, Pickering, Holt & Co. | Anish Kapadia | € 14.000 | Trim | 08 Jul 2011 | | Tudor, Pickering, Holt & Co. | Anish Kapadia | € 14.000 | Hold | 07 Jun 2011 | | Tudor, Pickering, Holt & Co. | Anish Kapadia | € 15.000 | Hold | 25 Jan 2011 |
|
| Jefferies International |
Brendan Warn |
€ 16.000 |
Buy |
12 Jan 2012 |
Summary of the last study published by this analyst
Jefferies has changed the price target for Galp Energia from €17 to €16, maintaining a Buy recommendation. The analyst considers that Galp Energia’s upstream activities will be affected by a declining production in Angola and a more moderate development pace in the Lula field. The downstream activities should continue with negative refining margins, following the benchmark refining margins European trend.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Jefferies International | Brendan Warn | € 16.000 | Buy | 12 Jan 2012 | | Jefferies International | Brendan Warn | € 17.000 | Buy | 07 Sep 2011 | | Jefferies International | Daniel Ekstein | € 17.500 | Buy | 11 Apr 2011 | | Jefferies International | Daniel Ekstein | € 17.000 | Buy | 14 Feb 2011 | | Jefferies International | Daniel Ekstein | € 16.000 | Buy | 22 Dec 2010 |
|
| Macquarie |
Jason Gammel |
€ 20.000 |
Outperform |
06 Jan 2012 |
Summary of the last study published by this analyst
Macquarie raised its price target for Galp Energia, from €18 to € 20, while maintaining an Outperform recommendation. The analyst raised his estimates by 30% on average for dated Brent’s price in the period between 2012 and 2014, assuming a long-term estimate of $115/bbl.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Macquarie | Jason Gammel | € 20.000 | Outperform | 06 Jan 2012 | | Macquarie | Jason Gammel | € 18.000 | Outperform | 14 Nov 2011 | | Macquarie | Jason Gammel | € 20.000 | Outperform | 31 Oct 2011 | | Macquarie | Jason Gammel | € 19.000 | Outperform | 11 Oct 2011 | | Macquarie | Jason Gammel | € 19.500 | Outperform | 01 Jul 2011 | | Macquarie | Jason Gammel | € 17.400 | Outperform | 10 Dec 2010 | | Macquarie | Jason Gammel | € 15.800 | Outperform | 03 Nov 2010 | | Macquarie | Jason Gammel | € 13.500 | Outperform | 08 May 2010 | | Macquarie | Iain Reid | € 13.500 | Outperform | 07 May 2010 | | Macquarie | Iain Reid | € 15.000 | Outperform | 31 Mar 2010 | | Macquarie | Iain Reid | € 13.000 | Outperform | 23 Oct 2008 | | Macquarie | Iain Reid | € 15.000 | Outperform | 08 Oct 2008 |
|
| Bernstein Research |
Oswald Clint |
€ 18.000 |
Outperform |
04 Jan 2012 |
Summary of the last study published by this analyst
Bernstein changed its price target for Galp Energia from €19.20 to €18, while maintaining an Outperform recommendation. The analyst has adjusted its valuation by taking into account the capital increase carried out by Galp Energia in Brazil and a higher valuation of the assets in Mozambique.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Bernstein Research | Oswald Clint | € 18.000 | Outperform | 04 Jan 2012 | | Bernstein Research | Oswald Clint | € 19.200 | Overweight | 28 Jul 2011 | | Bernstein Research | Oswald Clint | € 16.900 | Overweight | 07 Mar 2011 | | Bernstein Research | Oswald Clint | € 15.100 | Outperform | 18 Jan 2011 | | Bernstein Research | Oswald Clint | € 14.300 | Outperform | 26 May 2010 | | Bernstein Research | Oswald Clint | € 11.000 | Market perform | 04 Feb 2010 | | Bernstein Research | Oswald Clint | € 10.700 | Market perform | 20 Nov 2009 | | Bernstein Research | Oswald Clint | € 10.000 | Market perform | 20 May 2009 | | Bernstein Research | Oswald Clint | € 7.900 | Market perform | 01 May 2009 | | Bernstein Research | Oswald Clint | € 7.910 | Market perform | 03 Feb 2009 | | Bernstein Research | Oswald Clint | € 8.800 | Market perform | 22 Jan 2009 |
|
| AlphaValue |
Alexandre Andlauder |
€ 16.000 |
Buy |
02 Jan 2012 |
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| AlphaValue | Alexandre Andlauder | € 16.000 | Buy | 02 Jan 2012 | | AlphaValue | Alexandre Andlauder | € 15.900 | Add | 12 Aug 2011 | | AlphaValue | Alexandre Andlauder | € 16.700 | Reduce | 11 Jul 2011 | | AlphaValue | Alexandre Andlauder | € 15.800 | Reduce | 30 Jun 2011 | | AlphaValue | Alexandre Andlauder | € 16.100 | Reduce | 01 Apr 2011 | | AlphaValue | Alexandre Andlauder | € 16.500 | Add | 24 Mar 2011 | | AlphaValue | Alexandre Andlauder | € 17.100 | Add | 21 Jan 2011 | | AlphaValue | Alexandre Andlauder | € 16.700 | Add | 06 Jan 2011 | | AlphaValue | Alexandre Andlauder | € 16.400 | Add | 23 Dec 2010 | | AlphaValue | Alexandre Andlauder | € 16.300 | Add | 20 Dec 2010 | | AlphaValue | Alexandre Andlauder | € 17.100 | Buy | 16 Dec 2010 | | AlphaValue | Alexandre Andlauder | € 17.000 | Buy | 09 Dec 2010 | | AlphaValue | Alexandre Andlauder | € 16.900 | Buy | 02 Dec 2010 | | AlphaValue | Alexandre Andlauder | € 16.500 | Buy | 25 Nov 2010 | | AlphaValue | Alexandre Andlauder | € 16.600 | Add | 18 Nov 2010 | | AlphaValue | Alexandre Andlauder | € 16.700 | Add | 11 Nov 2010 | | AlphaValue | Alexandre Andlauder | € 16.600 | Add | 04 Nov 2010 | | AlphaValue | Alexandre Andlauder | € 16.200 | Buy | 15 Oct 2010 | | AlphaValue | Alexandre Andlauder | € 16.300 | Buy | 07 Oct 2010 | | AlphaValue | Alexandre Andlauder | € 15.100 | Add | 02 Sep 2010 | | AlphaValue | Alexandre Andlauder | € 15.000 | Add | 26 Aug 2010 | | AlphaValue | Alexandre Andlauder | € 15.100 | Buy | 17 Aug 2010 | | AlphaValue | Alexandre Andlauder | € 15.000 | Buy | 12 Aug 2010 | | AlphaValue | Alexandre Andlauder | € 15.200 | Add | 05 Aug 2010 | | AlphaValue | Alexandre Andlauder | € 15.000 | Add | 15 Jul 2010 | | AlphaValue | Alexandre Andlauder | € 14.900 | Add | 08 Jul 2010 | | AlphaValue | Alexandre Andlauder | € 14.800 | Add | 01 Jul 2010 | | AlphaValue | Alexandre Andlauder | € 14.900 | Add | 24 Jun 2010 | | AlphaValue | Alexandre Andlauder | € 14.800 | Add | 22 Jun 2010 | | AlphaValue | Alexandre Andlauder | € 14.100 | Add | 02 Jun 2010 | | AlphaValue | Alexandre Andlauder | € 14.000 | Buy | 26 May 2010 | | AlphaValue | Alexandre Andlauder | € 14.100 | Add | 19 May 2010 | | AlphaValue | Alexandre Andlauder | € 14.200 | Buy | 07 May 2010 | | AlphaValue | Alexandre Andlauder | € 14.300 | Buy | 05 May 2010 | | AlphaValue | Alexandre Andlauder | € 14.400 | Buy | 03 May 2010 | | AlphaValue | Alexandre Andlauder | € 14.500 | Buy | 29 Apr 2010 | | AlphaValue | Alexandre Andlauder | € 14.500 | Add | 28 Apr 2010 | | AlphaValue | Alexandre Andlauder | € 14.600 | Add | 19 Apr 2010 | | AlphaValue | Alexandre Andlauder | € 14.700 | Add | 16 Apr 2010 | | AlphaValue | Alexandre Andlauder | € 14.600 | Add | 08 Apr 2010 | | AlphaValue | Alexandre Andlauder | € 14.700 | Add | 02 Apr 2010 | | AlphaValue | Alexandre Andlauder | € 14.600 | Add | 01 Apr 2010 | | AlphaValue | Alexandre Andlauder | € 14.500 | Add | 18 Mar 2010 | | AlphaValue | Alexandre Andlauder | € 14.000 | Add | 11 Mar 2010 | | AlphaValue | Alexandre Andlauder | € 13.600 | Add | 04 Mar 2010 | | AlphaValue | Alexandre Andlauder | € 13.400 | Add | 25 Feb 2010 | | AlphaValue | Alexandre Andlauder | € 13.300 | Add | 18 Feb 2010 | | AlphaValue | Alexandre Andlauder | € 13.200 | Add | 11 Feb 2010 | | AlphaValue | Alexandre Andlauder | € 13.300 | Add | 04 Feb 2010 | | AlphaValue | Alexandre Andlauder | € 12.800 | Add | 28 Jan 2010 | | AlphaValue | Alexandre Andlauder | € 12.900 | Reduce | 07 Jan 2010 | | AlphaValue | Alexandre Andlauder | € 13.200 | Add | 17 Dec 2009 | | AlphaValue | Alexandre Andlauder | € 13.100 | Add | 10 Dec 2009 | | AlphaValue | Alexandre Andlauder | € 13.200 | Add | 03 Dec 2009 | | AlphaValue | Alexandre Andlauder | € 13.100 | Add | 12 Nov 2009 | | AlphaValue | Alexandre Andlauder | € 13.000 | Add | 29 Oct 2009 | | AlphaValue | Alexandre Andlauder | € 13.100 | Add | 22 Oct 2009 | | AlphaValue | Alexandre Andlauder | € 12.500 | Add | 15 Oct 2009 | | AlphaValue | Alexandre Andlauder | € 12.400 | Add | 10 Sep 2009 | | AlphaValue | Alexandre Andlauder | € 12.300 | Add | 03 Sep 2009 | | AlphaValue | Alexandre Andlauder | € 12.100 | Buy | 21 Aug 2009 | | AlphaValue | Alexandre Andlauder | € 13.000 | Buy | 13 Aug 2009 | | AlphaValue | Alexandre Andlauder | € 12.800 | Buy | 23 Jul 2009 | | AlphaValue | Alexandre Andlauder | € 12.600 | Buy | 16 Jul 2009 | | AlphaValue | Alexandre Andlauder | € 12.400 | Buy | 09 Jul 2009 | | AlphaValue | Alexandre Andlauder | € 12.700 | Add | 02 Jul 2009 | | AlphaValue | Alexandre Andlauder | € 12.500 | Add | 25 Jun 2009 | | AlphaValue | Alexandre Andlauder | € 12.600 | Add | 18 Jun 2009 | | AlphaValue | Alexandre Andlauder | € 12.800 | Add | 11 Jun 2009 | | AlphaValue | Alexandre Andlauder | € 12.600 | Reduce | 04 Jun 2009 | | AlphaValue | Alexandre Andlauder | € 11.900 | Add | 28 May 2009 | | AlphaValue | Alexandre Andlauder | € 11.950 | Add | 21 May 2009 | | AlphaValue | Alexandre Andlauder | € 11.830 | Add | 14 May 2009 | | AlphaValue | Alexandre Andlauder | € 11.770 | Add | 07 May 2009 | | AlphaValue | Alexandre Andlauder | € 11.640 | Add | 30 Apr 2009 | | AlphaValue | Alexandre Andlauder | € 11.420 | Add | 23 Apr 2009 | | AlphaValue | Alexandre Andlauder | € 11.380 | Add | 16 Apr 2009 | | AlphaValue | Alexandre Andlauder | € 9.590 | Reduce | 09 Apr 2009 | | AlphaValue | Alexandre Andlauder | € 9.630 | Reduce | 30 Mar 2009 |
|
| Fidentiis Equities |
Alberto Sánchez |
€ 15.250 |
Buy |
21 Dec 2011 |
Summary of the last study published by this analyst
Fidentis raised its price target for Galp Energia from €14.5 to €15.25 and upgrading its recommendation from Hold to Buy. The analyst has incorporated the recent gas discovery in Mozambique into the valuation and updated the estimates.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Fidentiis Equities | Alberto Sánchez | € 15.250 | Buy | 21 Dec 2011 | | Fidentiis Equities | Alberto Sánchez | € 14.500 | Hold | 14 Nov 2011 | | Fidentiis Equities | Alberto Sánchez | € 18.750 | Buy | 01 Aug 2011 | | Fidentiis Equities | Alberto Sánchez | € 18.250 | Buy | 30 Dec 2010 | | Fidentiis Equities | Alberto Sánchez | € 17.250 | Buy | 13 Dec 2010 | | Fidentiis Equities | Alberto Sánchez | € 10.000 | Hold | 07 Aug 2009 | | Fidentiis Equities | Alberto Sánchez | € 10.250 | Hold | 28 Nov 2008 |
|
| UBS |
Jon Rigby |
€ 14.500 |
Buy |
20 Dec 2011 |
Summary of the last study published by this analyst
UBS changed its price target for Galp Energia from €16 to €14.5, maintaining a Buy recommendation. The analyst has made a discount on the price of the shares due to his understanding that in the short term there will be any events that may serve as a catalyst to the value of the shares.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| UBS | Jon Rigby | € 14.500 | Buy | 20 Dec 2011 | | UBS | Jon Rigby | € 16.000 | Buy | 16 Aug 2011 | | UBS | Jon Rigby | € 16.000 | Neutral | 16 Mar 2011 | | UBS | Jon Rigby | € 15.000 | Neutral | 10 Dec 2010 | | UBS | Jon Rigby | € 14.500 | Neutral | 24 Nov 2010 | | UBS | Jon Rigby | € 13.000 | Neutral | 09 Apr 2010 | | UBS | Anish Kapadia | € 13.000 | Neutral | 08 Apr 2010 | | UBS | Anish Kapadia | € 12.000 | Neutral | 30 Nov 2009 | | UBS | Anish Kapadia | € 13.000 | Neutral | 23 Oct 2009 | | UBS | Anish Kapadia | € 13.000 | Buy | 29 May 2009 | | UBS | Anish Kapadia | € 12.000 | Buy | 07 Apr 2009 | | UBS | Anish Kapadia | € 14.000 | Buy | 06 Mar 2009 | | UBS | Anish Kapadia | € 14.500 | Buy | 14 Jan 2009 | | UBS | Anish Kapadia | € 16.000 | Buy | 30 Oct 2008 | | UBS | Anish Kapadia | € 19.000 | Buy | 24 Jul 2008 | | UBS | Anish Kapadia | € 20.500 | Buy | 08 Feb 2008 | | UBS | Anish Kapadia | € 19.500 | Buy | 23 Jan 2008 | | UBS | Anish Kapadia | € 18.000 | Neutral | 21 Dec 2007 | | UBS | Anish Kapadia | € 14.750 | Neutral | 12 Dec 2007 | | UBS | Anish Kapadia | € 14.600 | Neutral | 20 Nov 2007 | | UBS | Anish Kapadia | € 12.700 | Neutral | 09 Nov 2007 | | UBS | Anish Kapadia | € 9.250 | Sell | 24 Oct 2007 | | UBS | Anish Kapadia | € 9.250 | Sell | 03 Sep 2007 | | UBS | Anish Kapadia | € 8.750 | Sell | 03 Jul 2007 | | UBS | Anish Kapadia | € 8.250 | Neutral 2 | 18 May 2007 | | UBS | Anish Kapadia | € 7.750 | Neutral 2 | 23 Apr 2007 |
|
| BBVA |
Luis de Toledo |
€ 17.400 |
Outperform |
20 Dec 2011 |
Summary of the last study published by this analyst
BBVA has changed its recommendation from Market perform to Outperform with an updated price target of €17.4. The transaction in Brazil was in line with the estimates of the analyst and in his understanding the market has oversold Galp Energia’s shares and therefore created a larger upside potential.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| BBVA | Luis de Toledo | € 17.400 | Outperform | 20 Dec 2011 | | BBVA | Luis de Toledo | € 17.700 | Market perform | 20 Oct 2011 | | BBVA | Luis de Toledo | € 17.400 | Market perform | 28 Jun 2011 |
|
| Credit Suisse |
Thomas Adolff |
€ 15.000 |
Outperform |
15 Dec 2011 |
Summary of the last study published by this analyst
Credit Suisse lowered its price target for Galp Energia from € 15.7 to € 15, keeping the recommendation of Outperform. The analyst has adjusted its assessment of the stock to reflect the current low refining margins.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Credit Suisse | Thomas Adolff | € 15.000 | Outperform | 15 Dec 2011 | | Credit Suisse | Thomas Adolff | € 15.700 | Outperform | 14 Nov 2011 | | Credit Suisse | Thomas Adolff | € 18.300 | Outperform | 27 Jul 2011 | | Credit Suisse | Thomas Adolff | € 17.600 | Outperform | 05 Jul 2011 | | Credit Suisse | Thomas Adolff | € 16.400 | Outperform | 25 May 2011 | | Credit Suisse | Thomas Adolff | € 16.400 | Neutral | 18 Mar 2011 | | Credit Suisse | Thomas Adolff | € 13.100 | Underperform | 14 Dec 2010 | | Credit Suisse | Thomas Adolff | € 12.900 | Underperform | 18 Nov 2010 | | Credit Suisse | Kim Fustier | € 14.900 | Outperform | 03 Nov 2010 | | Credit Suisse | Kim Fustier | € 14.200 | Outperform | 05 Oct 2010 | | Credit Suisse | Kim Fustier | € 13.700 | Outperform | 06 Jul 2010 | | Credit Suisse | Kim Fustier | € 13.000 | Outperform | 15 Apr 2010 | | Credit Suisse | Dylan Dryden | € 11.000 | Outperform | 28 May 2009 | | Credit Suisse | Dylan Dryden | € 10.500 | Outperform | 20 Mar 2009 | | Credit Suisse | Will Forbes | € 12.000 | Outperform | 03 Nov 2008 | | Credit Suisse | Will Forbes | € 19.500 | Outperform | 12 Aug 2008 | | Credit Suisse | Will Forbes | € 21.000 | Outperform | 21 May 2008 | | Credit Suisse | Will Forbes | € 17.600 | Outperform | 16 Apr 2008 | | Credit Suisse | Will Forbes | € 18.800 | Outperform | 01 Apr 2008 | | Credit Suisse | Will Forbes | € 20.500 | Outperform | 07 Mar 2008 | | Credit Suisse | Will Forbes | € 22.500 | Outperform | 03 Mar 2008 | | Credit Suisse | Will Forbes | € 22.000 | Outperform | 07 Feb 2008 | | Credit Suisse | Will Forbes | € 21.000 | Outperform | 22 Jan 2008 | | Credit Suisse | Will Forbes | € 19.000 | Outperform | 18 Jan 2008 | | Credit Suisse | Will Forbes | € 18.000 | Outperform | 14 Dec 2007 | | Credit Suisse | Will Forbes | € 17.500 | Outperform | 10 Dec 2007 |
|
| Collins Stewart |
Gordon Gray |
€ 14.000 |
Hold |
29 Nov 2011 |
Summary of the last study published by this analyst
Collins Stewart has changed its price target for Galp Energia, from €14.5 to €14.0 , while maintaining a Hold recommendation. The analyst revised the price target to reflect new estimates for the downstream business.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Collins Stewart | Gordon Gray | € 14.000 | Hold | 29 Nov 2011 | | Collins Stewart | Gordon Gray | € 14.500 | Hold | 12 Aug 2011 | | Collins Stewart | Gordon Gray | € 15.500 | Hold | 09 Mar 2011 | | Collins Stewart | Gordon Gray | € 15.000 | Hold | 13 Dec 2010 | | Collins Stewart | Gordon Gray | € 14.250 | Hold | 02 Dec 2010 | | Collins Stewart | Gordon Gray | € 13.250 | Hold | 16 Sep 2010 | | Collins Stewart | Gordon Gray | € 12.250 | Hold | 10 May 2010 | | Collins Stewart | Gordon Gray | € 12.750 | Hold | 19 Jan 2010 | | Collins Stewart | Gordon Gray | € 10.000 | Hold | 17 Jul 2009 | | Collins Stewart | Gordon Gray | € 11.000 | Hold | 30 Apr 2009 | | Collins Stewart | Gordon Gray | € 8.300 | Hold | 12 Jan 2009 | | Collins Stewart | Gordon Gray | € 10.000 | Hold | 01 Dec 2008 |
|
| Caixa BI |
Carlos Jesus |
€ 18.700 |
Buy |
28 Nov 2011 |
Summary of the last study published by this analyst
Caixa Banco de Investimento revised upwards the price target of Galp Energia from €18.40 to €18.70, maintaining the Buy recommendation. The analyst highlights the upside potential arising from the E&P assets, both in Brazil and in Mozambique, and without financing risk.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Caixa BI | Carlos Jesus | € 18.700 | Buy | 28 Nov 2011 | | Caixa BI | Carlos Jesus | € 18.400 | Buy | 04 Nov 2010 | | Caixa BI | Carlos Jesus | € 16.000 | Buy | 10 Mar 2010 | | Caixa BI | Carlos Jesus | € 15.000 | Buy | 27 Oct 2009 | | Caixa BI | Carlos Jesus | € 12.300 | Buy | 19 Mar 2009 | | Caixa BI | Carlos Jesus | € 13.300 | Buy | 16 Jan 2009 | | Caixa BI | Carlos Jesus | € 14.400 | Buy | 24 Nov 2008 | | Caixa BI | Carlos Jesus | € 20.300 | Buy | 06 Oct 2008 | | Caixa BI | Carlos Jesus | € 21.500 | Buy | 01 Apr 2008 | | Caixa BI | Carlos Jesus | € 17.700 | Buy | 25 Jan 2008 | | Caixa BI | Carlos Jesus | € 14.600 | Accumulate | 14 Nov 2007 | | Caixa BI | Carlos Jesus | € 14.600 | Buy | 08 Nov 2007 | | Caixa BI | Carlos Jesus | € 11.200 | Accumulate | 17 Sep 2007 | | Caixa BI | Susana Neto | € 8.250 | Accumulate | 06 Aug 2007 | | Caixa BI | Susana Neto | € 7.150 | Accumulate | 06 Dec 2006 |
|
| Nomura |
Theepan Jothilingam |
€ 13.500 |
Reduce |
28 Nov 2011 |
Summary of the last study published by this analyst
Nomura revised downwards the price target of Galp Energia from €15.50 to €13.50, maintaining the Reduce recommendation, following the share capital increase in the Brazilian subsidiary, and respective assets valuation. The R&M business segment is pointed as having downside risk due to the macroeconomic scenario in Iberia and to the delay of the initiation of operations of the upgrade project to the second quarter 2012.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Nomura | Theepan Jothilingam | € 13.500 | Reduce | 28 Nov 2011 | | Nomura | Theepan Jothilingam | € 15.500 | Reduce | 20 Oct 2011 | | Nomura | To be defined (Nomura) | € 15.000 | Buy | 27 Feb 2010 | | Nomura | Michael Alsford | € 15.000 | Buy | 26 Feb 2010 | | Nomura | Michael Alsford | € 13.600 | Neutral | 26 Jan 2010 | | Nomura | Michael Alsford | € 12.000 | Neutral | 06 Aug 2009 | | Nomura | Michael Alsford | € 12.700 | Neutral | 20 May 2009 |
|
| Espírito Santo Research |
Filipe Rosa |
€ 17.700 |
Buy |
14 Nov 2011 |
Summary of the last study published by this analyst
BES revised downwards its price target for Galp Energia share from € 18.10 to € 17.70, maintaining a Buy recommendation. The analyst adjusted the value of Galp Energia’s assets in Brazil taking into account the implicit value in the transaction with Sinopec.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Espírito Santo Research | Filipe Rosa | € 17.700 | Buy | 14 Nov 2011 | | Espírito Santo Research | Filipe Rosa | € 18.100 | Buy | 28 Oct 2011 | | Espírito Santo Research | Filipe Rosa | € 17.800 | Buy | 21 Oct 2011 | | Espírito Santo Research | Filipe Rosa | € 17.200 | Buy | 27 Sep 2011 | | Espírito Santo Research | Filipe Rosa | € 17.100 | Buy | 11 Mar 2011 | | Espírito Santo Research | Filipe Rosa | € 17.200 | Buy | 29 Dec 2010 | | Espírito Santo Research | Filipe Rosa | € 17.000 | Buy | 14 Dec 2010 | | Espírito Santo Research | Filipe Rosa | € 16.000 | Buy | 28 Jul 2010 | | Espírito Santo Research | Filipe Rosa | € 13.600 | Buy | 07 Nov 2009 | | Espírito Santo Research | Pedro Morais | € 12.600 | Buy | 05 Nov 2008 | | Espírito Santo Research | Pedro Morais | € 17.400 | Buy | 11 Sep 2008 | | Espírito Santo Research | Pedro Morais | € 16.200 | Buy | 09 Sep 2008 | | Espírito Santo Research | Pedro Morais | € 15.300 | Buy | 30 Jun 2008 | | Espírito Santo Research | Pedro Morais | € 15.000 | Neutral | 09 Nov 2007 | | Espírito Santo Research | Pedro Morais | € 11.200 | Buy | 20 Aug 2007 | | Espírito Santo Research | Pedro Morais | € 8.000 | Buy | 03 Jul 2007 | | Espírito Santo Research | Pedro Morais | € 7.600 | Buy | 28 Feb 2007 | | Espírito Santo Research | Pedro Morais | € 6.600 | Neutral | 19 Dec 2006 |
|
| Equita SIM |
Massimo Bonisoli |
€ 17.000 |
Buy |
11 Nov 2011 |
Summary of the last study published by this analyst
Equita dropped the price for Galp Energia from €18.3 to €17 per share, maintaining a Buy recommendation. The analyst had estimated a value for the transaction that was above the deal announced between Galp Energia and Sinopec.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Equita SIM | Massimo Bonisoli | € 17.000 | Buy | 11 Nov 2011 | | Equita SIM | Massimo Bonisoli | € 18.300 | Buy | 02 Nov 2011 | | Equita SIM | Massimo Bonisoli | € 18.000 | Buy | 02 Aug 2011 | | Equita SIM | Massimo Bonisoli | € 17.700 | Buy | 06 Jul 2011 | | Equita SIM | Massimo Bonisoli | € 17.500 | Buy | 07 Apr 2011 | | Equita SIM | Massimo Bonisoli | € 17.000 | Buy | 04 Oct 2010 | | Equita SIM | Massimo Bonisoli | € 14.000 | Neutral | 10 Aug 2010 | | Equita SIM | Massimo Bonisoli | € 14.000 | Buy | 08 Mar 2010 | | Equita SIM | Massimo Bonisoli | € 13.200 | Buy | 23 Feb 2010 | | Equita SIM | Gianmarco Bonacina | € 13.300 | Buy | 02 Nov 2009 | | Equita SIM | Gianmarco Bonacina | € 12.700 | Buy | 28 Jul 2009 | | Equita SIM | Gianmarco Bonacina | € 13.300 | Buy | 21 May 2009 | | Equita SIM | Gianmarco Bonacina | € 12.900 | Neutral | 16 Feb 2009 | | Equita SIM | Gianmarco Bonacina | € 13.000 | Neutral | 16 Sep 2008 | | Equita SIM | Gianmarco Bonacina | € 12.000 | Sell | 27 Jun 2008 |
|
| N+1 Equities |
Fernando Lafuente |
€ 15.000 |
Neutral |
11 Nov 2011 |
Summary of the last study published by this analyst
N +1 Equities changed its price target for Galp Energia from €19.6 to €15 per share, changing its recommendation to Neutral. In the view of the analyst, the subscription of a 30% stake in Galp Energia’s Brazil subsidiary by Sinopec was carried out with a value below its implied value.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| N+1 Equities | Fernando Lafuente | € 15.000 | Neutral | 11 Nov 2011 | | N+1 Equities | Fernando Lafuente | € 150.000 | Neutral | 11 Nov 2011 | | N+1 Equities | Fernando Lafuente | € 19.600 | Buy | 06 Sep 2011 | | N+1 Equities | Fernando Lafuente | € 21.000 | Buy | 20 Jul 2011 | | N+1 Equities | Fernando Lafuente | € 17.800 | Buy | 02 Jun 2011 | | N+1 Equities | Fernando Lafuente | € 17.000 | Neutral | 16 Mar 2011 | | N+1 Equities | Fernando Lafuente | € 15.850 | Neutral | 09 Feb 2011 | | N+1 Equities | Fernando Lafuente | € 16.000 | Neutral | 13 Dec 2010 |
|
| Barclays Capital |
Lydia Rainforth |
€ 19.650 |
1-Overweight |
31 Oct 2011 |
Summary of the last study published by this analyst
Barclays Capital has raised Galp Energia’s target price from €19 to €19.65 maintaining a recommendation of Overweight. This revision follows the exposure of Galp Energia to the discovery of 22.5 tcf of gas in place at the Mamba South prospect in Mozambique.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Barclays Capital | Lydia Rainforth | € 19.650 | 1-Overweight | 31 Oct 2011 | | Barclays Capital | Lydia Rainforth | € 19.000 | Overweight | 01 Jul 2011 | | Barclays Capital | Lydia Rainforth | € 18.000 | 1-Overweight | 02 May 2011 | | Barclays Capital | Lydia Rainforth | € 18.500 | 1-Overweight | 10 Dec 2010 | | Barclays Capital | Lydia Rainforth | € 17.000 | 1-Overweight | 06 Dec 2010 | | Barclays Capital | Lydia Rainforth | € 15.000 | 1-Overweight | 03 Nov 2010 | | Barclays Capital | Lydia Rainforth | € 14.000 | 1-Overweight | 31 Mar 2010 | | Barclays Capital | Lydia Rainforth | € 13.500 | 1-Overweight | 15 Dec 2009 | | Barclays Capital | Lydia Rainforth | € 12.500 | 1-Overweight | 12 Nov 2009 | | Barclays Capital | Lydia Rainforth | € 11.500 | 1-Overweight | 16 Apr 2009 |
|
| Citigroup |
Michael Alsford |
€ 15.500 |
Hold |
06 Oct 2011 |
Summary of the last study published by this analyst
Citi has lowered Galp Energia’s price target from €15.7 to €15.5 maintaining a recommendation of hold. According the analyst this small adjustment has to do with Citi’s long-term growth assumptions for Iberia.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Citigroup | Michael Alsford | € 15.500 | Hold | 06 Oct 2011 | | Citigroup | Michael Alsford | € 15.700 | Hold | 23 Aug 2011 | | Citigroup | Michael Alsford | € 16.000 | Hold | 27 Jan 2011 |
|
| Santander |
Jason Kenney |
€ 17.300 |
Buy |
22 Sep 2011 |
Summary of the last study published by this analyst
Santander reinitiated the coverage of Galp Energia's stock with a price target of €17.3 and a Buy recommendation with the E&P business representing 62% of the company EV (enterprise value). The investment bank estimates a growth in cash-flow from 2012 onwards following the investment in the upgrade project, while the capital increase in the Brazilian subsidiary will be positive for the stock.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Santander | Jason Kenney | € 17.300 | Buy | 22 Sep 2011 | | Santander | To be defined (Santander) | € 14.400 | Buy | 30 May 2009 | | Santander | Sandra Boente | € 14.400 | Buy | 29 May 2009 | | Santander | Sandra Boente | € 12.400 | Buy | 06 Apr 2009 | | Santander | Pedro Balcão Reis | € 21.500 | Buy | 10 Mar 2008 | | Santander | Pedro Balcão Reis | € 14.200 | Buy | 01 Nov 2007 | | Santander | Pedro Balcão Reis | € 11.200 | Buy | 15 Jun 2007 | | Santander | Pedro Balcão Reis | € 8.400 | Buy | 01 Mar 2007 |
|
| Millenium BCP Investimento |
Vanda Mesquita |
€ 18.150 |
Buy |
01 Sep 2011 |
Summary of the last study published by this analyst
Millennium Investment Banking raised Galp Energia’s price target to €18.15 from €17.30, maintaining the Buy recommendation. This increase was mainly driven by (i) higher reserves expected on Lula, Cernambi and Iara fields, and (ii) higher production targets released by the Company in July.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Millenium BCP Investimento | Vanda Mesquita | € 18.150 | Buy | 01 Sep 2011 | | Millenium BCP Investimento | Vanda Mesquita | € 17.300 | Buy | 20 Apr 2011 | | Millenium BCP Investimento | Vanda Mesquita | € 17.350 | Buy | 14 Mar 2011 | | Millenium BCP Investimento | Vanda Mesquita | € 17.000 | Buy | 04 Feb 2011 | | Millenium BCP Investimento | Vanda Mesquita | € 15.200 | Buy | 20 Oct 2010 | | Millenium BCP Investimento | Vanda Mesquita | € 14.200 | Buy | 22 Jul 2010 | | Millenium BCP Investimento | Vanda Mesquita | € 14.650 | Buy | 18 Mar 2010 | | Millenium BCP Investimento | Vanda Mesquita | € 13.050 | Buy | 21 Dec 2009 | | Millenium BCP Investimento | Vanda Mesquita | € 13.050 | Neutral | 11 Nov 2009 | | Millenium BCP Investimento | Vanda Mesquita | € 13.050 | Buy | 10 Sep 2009 | | Millenium BCP Investimento | Pedro Mendes | € 17.100 | Buy | 07 Apr 2008 | | Millenium BCP Investimento | Pedro Mendes | € 14.500 | Neutral | 14 Nov 2007 | | Millenium BCP Investimento | Pedro Mendes | € 14.500 | Buy | 08 Nov 2007 | | Millenium BCP Investimento | Pedro Mendes | € 11.000 | Neutral | 07 Nov 2007 | | Millenium BCP Investimento | Pedro Mendes | € 7.700 | Sell | 08 Aug 2007 | | Millenium BCP Investimento | Pedro Mendes | € 7.700 | Neutral | 13 Apr 2007 | | Millenium BCP Investimento | Pedro Mendes | € 6.850 | Reduce | 08 Mar 2007 | | Millenium BCP Investimento | Pedro Mendes | € 6.850 | Neutral | 08 Feb 2007 | | Millenium BCP Investimento | Pedro Mendes | € 6.250 | Reduce | 26 Jan 2007 | | Millenium BCP Investimento | Pedro Mendes | € 6.000 | Reduce | 09 Jan 2007 |
|
| J.P. Morgan Cazenove |
Nitin Sharma |
€ 20.000 |
Overweight |
27 Jul 2011 |
Summary of the last study published by this analyst
J.P. Morgan increased Galp Energia’s price target from €18.5 to €20.0 while maintaining an Overweight recommendation. This change is justified by the upward revision of resources estimate of the Brazilian pre-salt following the announcement of BG Group.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| J.P. Morgan Cazenove | Nitin Sharma | € 20.000 | Overweight | 27 Jul 2011 | | J.P. Morgan Cazenove | Nitin Sharma | € 18.500 | Overweight | 05 Apr 2011 | | J.P. Morgan Cazenove | Nitin Sharma | € 17.500 | Overweight | 04 Feb 2011 | | J.P. Morgan Cazenove | Nitin Sharma | € 16.000 | Overweight | 09 Dec 2010 | | J.P. Morgan Cazenove | Nitin Sharma | € 15.000 | Overweight | 01 Jun 2010 | | J.P. Morgan Cazenove | Nitin Sharma | € 16.800 | Outperform | 20 Nov 2009 | | J.P. Morgan Cazenove | Nitin Sharma | € 14.000 | Underperform | 23 Jul 2009 | | J.P. Morgan Cazenove | Nitin Sharma | € 14.000 | In-Line | 14 Jan 2009 | | J.P. Morgan Cazenove | Nitin Sharma | € 16.200 | Outperform | 30 Sep 2008 |
|
| Deutsche Bank |
Elaine Dunphy |
€ 20.000 |
Buy |
12 Jul 2011 |
Summary of the last study published by this analyst
Deutsche Bank increased Galp Energia’s price target from € 17.75 to € 20 while maintaining a Buy recommendation. This change is justified by the upside potential of the Brazilian subsidiary transaction.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Deutsche Bank | Elaine Dunphy | € 20.000 | Buy | 12 Jul 2011 | | Deutsche Bank | Elaine Dunphy | € 17.750 | Buy | 11 Mar 2011 | | Deutsche Bank | Elaine Dunphy | € 15.900 | Hold | 07 Jan 2011 | | Deutsche Bank | Elaine Dunphy | € 14.650 | Hold | 06 Oct 2010 | | Deutsche Bank | Elaine Dunphy | € 12.750 | Hold | 06 May 2010 | | Deutsche Bank | Elaine Dunphy | € 12.650 | Hold | 18 Mar 2010 | | Deutsche Bank | Luis Fañanas | € 14.000 | Buy | 17 Apr 2009 |
|
| Investec |
Stuart Joyner |
€ 17.330 |
Hold |
01 Jul 2011 |
Summary of the last study published by this analyst
Investec decreased Galp Energia's recommendation from Buy to Hold due to the recent outperformance of the stock versus de sector.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Investec | Stuart Joyner | € 17.330 | Hold | 01 Jul 2011 | | Investec | Stuart Joyner | € 17.330 | Buy | 02 Feb 2011 |
|
| ING |
Jason Kenney |
€ 17.000 |
Hold |
07 Mar 2011 |
Summary of the last study published by this analyst
ING increased Galp Energia’s share price target to €17.0 from €14.8, maintaining an Hold recommendation. This increase is due to a higher estimated oil price between 2011 and 2014.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| ING | Jason Kenney | € 17.000 | Hold | 07 Mar 2011 | | ING | Jason Kenney | € 14.800 | Hold | 10 Jan 2011 | | ING | Jason Kenney | € 14.500 | Hold | 19 Nov 2010 | | ING | Jason Kenney | € 13.500 | Hold | 06 Sep 2010 | | ING | Jason Kenney | € 12.000 | Hold | 02 Mar 2010 | | ING | Jason Kenney | € 11.300 | Hold | 03 Feb 2010 | | ING | Jason Kenney | € 11.500 | Sell | 14 Jan 2010 | | ING | Jason Kenney | € 10.500 | Sell | 16 Sep 2009 | | ING | Jason Kenney | € 9.000 | Sell | 05 Aug 2009 | | ING | Jason Kenney | € 10.000 | Sell | 10 Jun 2009 | | ING | Jason Kenney | € 10.500 | Hold | 27 May 2009 | | ING | Jason Kenney | € 12.600 | Buy | 21 Jan 2009 | | ING | Jason Kenney | € 13.600 | Buy | 14 Nov 2008 | | ING | Jason Kenney | € 16.020 | Buy | 03 Oct 2008 | | ING | Jason Kenney | € 15.700 | Buy | 18 Aug 2008 |
|
| Banif |
Sofia Cordeiro |
€ 15.250 |
Neutral |
22 Feb 2011 |
Summary of the last study published by this analyst
Banif has re-started coverage of Galp Energia’s share, attributing a price target of €15.25 and a Neutral recommendation. Despite recognizing potential in Brazilian Exploration & Production portfolio and anticipating the recovery in the Refining & Marketing business, Banif attributes some risk to the share, namely a high execution risk to the upstream activities.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Banif | Sofia Cordeiro | € 15.250 | Neutral | 22 Feb 2011 | | Banif | To be defined (Banif) | € 14.600 | Buy | 02 Apr 2010 | | Banif | Julieta Vital | € 14.600 | Buy | 01 Apr 2010 | | Banif | Julieta Vital | € 14.350 | Buy | 18 Dec 2009 | | Banif | Julieta Vital | € 13.500 | Buy | 27 Nov 2008 | | Banif | Gabriela Pereira Ramos | € 19.700 | Buy | 07 Aug 2008 | | Banif | Gabriela Pereira Ramos | € 19.600 | Buy | 18 Jun 2008 | | Banif | Gabriela Pereira Ramos | € 19.150 | Buy | 06 Mar 2008 | | Banif | Gabriela Pereira Ramos | € 19.400 | Buy | 24 Jan 2008 | | Banif | Gabriela Pereira Ramos | € 15.700 | Buy | 09 Nov 2007 | | Banif | Gabriela Pereira Ramos | € 12.600 | Buy | 14 Aug 2007 | | Banif | Gabriela Pereira Ramos | € 8.240 | Buy | 29 Mar 2007 |
|
| Morgan Stanley |
Theepan Jothilingman |
€ 16.000 |
Equalweight |
17 Nov 2010 |
Summary of the last study published by this analyst
Morgan Stanley revised downwards the recommendation of Galp Energia from Overweight to Equalweight, but maintained the price target at €16. This revision was mainly due to the recent performance of the stock.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Morgan Stanley | Theepan Jothilingman | € 16.000 | Equalweight | 17 Nov 2010 | | Morgan Stanley | Theepan Jothilingman | € 16.000 | Overweight | 12 Jan 2010 | | Morgan Stanley | Theepan Jothilingman | € 14.000 | Overweight | 18 Feb 2009 | | Morgan Stanley | Andrew Bowman | € 21.000 | Overweight | 22 Jan 2008 | | Morgan Stanley | Andrew Bowman | € 19.500 | Overweight-V | 09 Jan 2008 | | Morgan Stanley | Andrew Bowman | € 18.000 | Overweight-V | 03 Dec 2007 | | Morgan Stanley | Andrew Bowman | € 17.100 | Overweight-V | 09 Nov 2007 | | Morgan Stanley | Andrew Bowman | € 12.400 | Overweight-V | 23 Oct 2007 | | Morgan Stanley | Andrew Bowman | € 11.600 | Overweight-V | 05 Sep 2007 | | Morgan Stanley | Andrew Bowman | € 11.400 | Overweight-V | 09 Aug 2007 | | Morgan Stanley | Andrew Bowman | € 8.800 | Overweight-V | 22 May 2007 | | Morgan Stanley | Joseph Mares | € 7.700 | Overweight-V | 23 Feb 2007 | | Morgan Stanley | Joseph Mares | € 6.300 | Equal-weight-V | 13 Dec 2006 | | Morgan Stanley | Joseph Mares | € 6.450 | Equal-weight-V | 06 Dec 2006 |
|
| Lisbon Brokers |
Miguel Albuquerque |
€ 14.500 |
Strong Buy |
13 Jan 2009 |
Summary of the last study published by this analyst
Lisbon Brokers cut Galp Energia price target from €15 to €14.50 and maintained the recommendation on Strong Buy. This change reflects the valuation roll-over from 2008 to 2009 and the decrease of 2009 EPS from €0.60 to €0.52.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Lisbon Brokers | Miguel Albuquerque | € 14.500 | Strong Buy | 13 Jan 2009 | | Lisbon Brokers | Sara Amaral | € 14.500 | Strong Buy | 12 Jan 2009 | | Lisbon Brokers | Sara Amaral | € 15.000 | Strong Buy | 17 Oct 2008 | | Lisbon Brokers | Sara Amaral | € 17.500 | Strong Buy | 11 Sep 2008 | | Lisbon Brokers | Sara Amaral | € 16.000 | Strong Buy | 01 Aug 2008 | | Lisbon Brokers | Sara Amaral | € 19.000 | Buy | 05 Feb 2008 | | Lisbon Brokers | Sara Amaral | € 17.000 | Hold | 18 Dec 2007 | | Lisbon Brokers | Filipa Ferreira | € 12.000 | Under review | 15 Nov 2007 | | Lisbon Brokers | Filipa Ferreira | € 8.000 | Buy | 06 Mar 2007 |
|
| Banesto |
Robert Jackson |
€ |
|
08 Apr 2008 |
Summary of the last study published by this analyst
The price target is under review.
|
| Institution |
Analyst |
Target price |
Recommendation |
Date |
| Banesto | Robert Jackson | € | | 08 Apr 2008 | | Banesto | José Brito Correia | € 17.600 | Sobreponderar | 01 Apr 2008 |
|