Deutsche Bank Upgrades Statoil ASA (STO) to Buy

Deutsche Bank upgraded Statoil ASA (NYSE: STO) from Hold to Buy.

Analyst Mark Bloomfield said, "After a pull back in the share price and with valuation looking less demanding, we believe the combination of exposure to Euro gas, leverage to crude and near-term exploration catalysts point to potential 12-month outperformance."

For an analyst ratings summary and ratings history on Statoil ASA click here. For more ratings news on Statoil ASA click here.

Shares of Statoil ASA closed at $28.39 yesterday.

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