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Repsol price target lowered to EUR 11.40 from EUR 11.50 at HSBC

HSBC lowered the firm’s price target on Repsol (REPYY) to EUR 11.40 from EUR 11.50 and keeps a Hold rating on the shares. The sharp fall in oil prices since early April has raised pressure on oil majors’ financial frameworks, which were designed to work at $70 per barrel oil, the analyst tells investors in a research note. The firm cut estimates for the global integrated oils.

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