Jefferies upgrades Energean to hold from underperform
Jefferies upgraded Energean to hold from underperform, saying the risk/reward is now more reasonably priced after stock weakness year to date. The firm set a price target of 800p, citing revised commodity prices and updated tax model assumptions.
Jefferies said it sees the risk/reward as more reasonably priced after the stock’s weakness year to date. It upgraded Energean to hold from underperform and raised its price target by +17% to 800p, citing revised commodity prices, updated tax model assumptions that are supportive to NAV, and Katlan development moving closer to completion.