Karoon Energy upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs upgraded Karoon Energy to Buy from Neutral with a price target of A$2.68, down from A$2.71. The analyst cites valuation for the upgrade with the stock trading at a significant discount to the firm’s risked net assert value. Karoon offers strong exposure to oil prices which Goldman expects will remain elevated over the near term, the analyst tells investors in a research note.