BUZZ-Jefferies upgrades Repsol and TotalEnergies, cuts Galp in European oil review
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Jefferies has upgraded TotalEnergies and Repsol to 'buy' while downgrading Galp Energia to 'underperform' in its European oil review. The firm anticipates that buybacks will enhance valuations in the sector, projecting growth beyond these effects for Repsol and TotalEnergies. In contrast, Galp's growth strategy, particularly its focus on the Mopane field, is viewed as unrealistic. Rating changes include TotalEnergies upgraded to 'buy' with a price target of EUR 66, and Repsol upgraded to 'buy' with a target of EUR 19.
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