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BG GROUP PLC ADS Message Board

  • buffet_munger buffet_munger Dec 14, 2012 5:48 AM Flag

    downgraded again....


    Category: Financials
    Published on Friday, 14 December 2012 09:53
    Written by Super User
    The oil majors are under pressure; this morning we look at the recent downgrades suffered by BG Group plc (LON:BG) and BP plc (LON:BP) at the hands of a number of brokers.

    We also note that a technical analysis of the BG Group share price chart confirms bearish momentum.

    Barclays have today maintained BG stock at their Overweight rating, but in a sign that momentum behind the oil group is slowing they have dropped their target price from 1490 to 1450.

    From a technical point-of-view analyst J Wong at Investors Intelligence says he is calling time on his 'long' position on BG:

    "I close BG long as the stock is encountering growing resistance at 1100p. A re-test of the 1000p is possible."

    Credit Suisse have meanwhile dropped their rating on BP shares from Outperform to Neutral.

    Barclays keep BP at Underweight but reassess their target; moving it to 480 from 500.

    This topic is deleted.
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