Repsol: in the red on broker downgrade

(CercleFinance.com) - Repsol is down by almost 2%, underperforming the trend in Madrid, after UBS downgraded its recommendation on the energy group's shares from 'buy' to 'neutral', with a price target reduced from 17 to 11.
5 euros.

Lower refining margins and oil and gas prices in the US are leading to significant EPS cuts", explains the broker, who sees a risk of lower expectations for Repsol in this "more difficult" environment.

Copyright (c) 2024 CercleFinance.com. All rights reserved.