GALP ENERGIA SG/ADR (OTCMKTS:GLPEY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The firm presently has a $8.00 price target on the energy company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 8.25% from the company’s current price.
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. “
A number of other equities analysts have also recently weighed in on the company. Barclays upgraded GALP ENERGIA SG/ADR from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 31st. ValuEngine upgraded GALP ENERGIA SG/ADR from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Goldman Sachs Group cut GALP ENERGIA SG/ADR from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price 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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