EnQuest upgraded to Buy from Speculative Buy at Canaccord

Canaccord upgraded EnQuest to Buy from Speculative Buy with a price target of 33 GBp, up from 25 GBp. The rapid escalation of various actions across the Middle East has shifted the market focus back to supply-side risk and political/security uncertainties in that region, says the analyst, who sees EnQuest “looking far more appealing” with net debt declining rapidly and production “solid.”