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PBR Prem. Bar & Res

1.75
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Last Updated: 00:00:00
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Share Name Share Symbol Market Type Share ISIN Share Description
Prem. Bar & Res LSE:PBR London Ordinary Share GB0007456139 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.75 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Goldman Lifts View On Refining, Upgrades Oil Cos

25/09/2009 5:38pm

Dow Jones News


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Goldman Sachs research analysts on Friday raised their oil-refining coverage view to neutral from cautious on a better demand outlook. he action includes an upgrade of Holly Corp. (HOC) to buy from neutral and Sunoco Inc. (SUN) to neutral from sell. Goldman also added Occidental Petroleum Corp. (OXY) to its conviction buy list, joining Suncor Energy Inc. (SU) and Petroleo Brasileiro SA (PBR).

"We increasingly believe we are moving through the trough of the refining cycle," Goldman analysts said in a note to clients. "We now see oil-demand growth equal to or slightly in excess of refining capacity growth over the next few years. Unlike crude oil, we believe a refining recovery will be more gradual as we think a relatively high level of excess capacity will persist."

-By Steve Gelsi, 415-439-6400; AskNewswires@dowjones.com

 
 

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