(up to DATE) Deutsche Bank cuts its recommendation for Lundin Petroleum to sell from the keep. Riktkursen is increased to 184 from 182 sek. It is clear from an analysis dated January 4, when the Lundin Petroleum shares closed at course 199:10 kronor in Stockholm.
Deutsche Bank believe that the market is now pricing in that Lundin Petroleum will “execute perfectly”, and that it counts with both an annual revenue growth rate of 16 per cent between 2016 and 2020 and the increase of the company’s reserves of both Edvard Grieg – Johan Sverdrup-field.
It writes the bank in a rekommendationssänkning to sell from the keep.
the Market is also expected to count with the continued success of exploration in the Barentsfältet, noted in the analysis.
“We acknowledge that Lundin has regularly proven their ability to exceed analysts’ expectations, but believe that the share price has risen too much above our valuation in the current situation”, is called it there.
Riktkursen is increased to 184 from 182 kronor for the shares, which closed at 199:10, on Wednesday and after about an hour of trading on Thursday were the worst in the OMXS30 index with a decline of just under 3% to the course 193:50.
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