Tullow Oil: Berenberg sees a buy opportunity
(CercleFinance.com) - Berenberg reiterates its "buy" recommendation on the Tullow Oil share, along with its target price of 240p, following the end of an outsourcing agreement between the UK-based oil company, Total and CNOOC for the Lake Albert project in Uganda.
"We believe the share price will, therefore, weaken, presenting a good buying opportunity ahead of drilling results for offshore Guyana, expected in mid-September," the broker says.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"We believe the share price will, therefore, weaken, presenting a good buying opportunity ahead of drilling results for offshore Guyana, expected in mid-September," the broker says.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.