Zacks Investment Research upgraded shares of GALP ENERGIA SG/ADR (OTCMKTS:GLPEY) from a hold rating to a buy rating in a report issued on Monday morning. The brokerage currently has $11.00 target price 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. “
Separately, BNP Paribas lowered shares of GALP ENERGIA SG/ADR from a neutral rating to an underperform rating in a research note on Friday, April 20th.
About GALP ENERGIA SG/ADR
Galp Energia, SGPS, SA operates as oil and natural gas integrated operator worldwide. Its Exploration & Production segment explores, develops, and produces hydrocarbons in approximately 51 projects with proved, probable, and possible reserves of 748 million barrels of oil equivalent. The company's Refining & Marketing of Oil Products segment 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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