Broker views on BP Plc, BG Group plc: Goldman Sachs is keen on BG while Deutsche Bank is favouring strong gains from BP
- Category: Share Price Drivers
- Published on Thursday, 21 March 2013 12:09
- Written by Rob Samson
Goldman Sachs are still super-keen on BG Group plc (LON:BG) - the oil major has retained its position on the Conviction Buy list while commanding a target price at 1600.
BG Group shares are 0.8 pct lower at 1160.
Sector peer BP plc (LON:BP) however finds itself stuck on the less-than-thrilling Neutral list at Goldmans, a target share price of 490 is maintained.
Deutsche Bank are a little more positive on BP however, keeping their Buy rating on the stock. A target price of 520 is maintained.
BP is today 0.47 pct lower at 445.90.
Markets on tenterhooks as Cyprus scrambles to avoid financial meltdown
The FTSE 100 has seen heavy selling today as poor German data combines with the uncertainty Cyprus presents the rest of struggling peripheral Europe. Latest reports from Reuters say leaders are currently locked in a meeting over 'Plan B.'
Max Cohen at Spreadex says:
"Cyprus are currently in the process of trying to prevent a national economic meltdown and are said to be considering nationalising pensions.
"Banks are to stay shut utill next week in order to avoid financial chaos after rejecting the terms of a European Union bailout, analysts expect Cyprus to turn to Russia for aid.
"President Nicos Anastasiades is due to meet party leaders at 7:30am GMT in crisis talks after last night’s meetings to discuss a “plan B” broke up without a result. EU officials voiced frustration but little sympathy for an ambitious but now bust banking system that extended itself well beyond the island.
"Austerity measures imposed in the UK are being met with ever increasing suspicion and distain from the general public with more and more believing that a switch in strategy will fare better for the economy.
"However, the austerity demanded by European policy makers in exchange for aid amid three years of debt woes is starting to deliver the competitiveness needed to restore economic growth.
"At the price of a doubling in unemployment and near-10 percent plunge in labour costs, the so-called peripheral euro nations are reviving manufacturing and trade. The current- account deficits of countries that have been under stress diminished over the last years considerably."
Newer news items:
- BT Group plc : BT.A bid higher as investors digest Nomura upgrade to target price, UK markets under pressure once more - 22/03/2013 10:47
- BT Group plc : BT.A upgraded by Nomura as 'regulatory rhetoric' is seen turning highly favourable for fixed network providers - 22/03/2013 10:43
- Next plc : NXT offers valuation concerns after 43 pct growth in share price warns Hargreaves Lansdown - 21/03/2013 14:33
- Next Plc : NXT bid higher as "Britain’s most adept multichannel retailer continues to power ahead" - 21/03/2013 14:26
- Technicals: BG Group plc and BP plc are bearish in the short term but BP seen as being more bullish in the longer term - 21/03/2013 12:13
Older news items:
- Lloyds Banking Group plc outperformed by Barclays plc, Royal Bank of Scotland on the stock markets as long-term resistance strikes - 21/03/2013 10:03
- BlackRock, Inc. - BLK welcome today's decision to scrap stamp duty tax on UK domiciled funds and AIM share - 20/03/2013 16:16
- General Mills, Inc. - GIS shares tipped to open in the red by nearly 0.5 pct; but momentum favours further gains - 20/03/2013 13:11
- Adobe Systems Incorporated : ADBE shares to target 43.6; today set to see strong buying interest at the opening bell - 20/03/2013 13:09
- Marks and Spencer: Qatari takeover of MKS will result in credit downgrade, but stock is still a Buy says Jyske Bank - 20/03/2013 13:06
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