Goldman Sachs upgrades Total to buy from neutral

LONDON (MarketWatch) — Goldman Sachs upgraded French oil producer Total to buy from neutral on Thursday after upgrading oil price estimates. The broker now expects brent crude prices of $117.4 a barrel in 2008, up from a previous estimate of $106.0 a barrel. It also lifted forecasts for every year up to 2012. “We have increased out oil price forecasts to reflect a continued tightening of global crude oil/supply demand fundamentals,” the broker said. Still, it downgraded ENI to neutral from buy, saying that there are better growth opportunities in Total over the next two years.
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Original post by Forextvblog

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