Zacks Investment Research upgraded shares of GALP ENERGIA SG/ADR (OTCMKTS:GLPEY) from a hold rating to a buy rating in a research report released on Monday, Zacks.com reports. They currently have $8.00 price target on the energy company’s stock.
According to Zacks, “Galp Energia SGPS SA is an energy company engaged in the exploration and production of oil and natural gas. It is also engaged in refining and marketing of oil products, natural gas marketing and sales and power generation. Galp Energia offers products within the following groups: motor fuels, natural gas, LPG, bitumen, chemicals and lubricants. The Company also offers gas appliances for cooking, heating or lighting. Galp Energia SGPS SA is headquartered in Lisbon, Portugal. “
Several other research analysts have also recently weighed in on the company. Goldman Sachs Group cut GALP ENERGIA SG/ADR from a buy rating to a neutral rating in a report on Thursday, August 1st. Barclays upgraded GALP ENERGIA SG/ADR from an equal weight rating to an overweight rating in a report on Wednesday, July 31st. Finally, ValuEngine upgraded GALP ENERGIA SG/ADR from a sell rating to a hold rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. GALP ENERGIA SG/ADR has a consensus rating of Hold and a consensus price target of $8.00.
About GALP ENERGIA SG/ADR
Galp Energia, SGPS, SA operates as oil and natural gas integrated operator worldwide. It explores, develops, and produces hydrocarbons in approximately 50 projects with proved, probable, and possible reserves of 755 million barrels of oil equivalent. The company also engages in the refining, retail, and wholesale marketing of oil products; operation of oil products storage and transportation infrastructure; and operation of 1,459 service stations in Portugal, Spain, and Africa.
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