Jefferies analyst Giacomo Romeo lowered the firm’s price target on Galp Energia (GLPEY) to EUR 21 from EUR 23 and keeps a Buy rating on the shares. The firm estimates farm-in value for Galp’s Mopane discovery offshore Namibia will realize closer tot $3B value net to its 80% stake. The firm also estimates that Galp trades at a premium to M&A deals for BG Group and Hess.
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