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Shell Stock Downgraded, BP Upgraded at BNP Paribas

Updated 10 Jan 2022

Key Points:

  • BP upgraded, Shell Downgraded
  • Rio Tinto upgraded
  • Wise plc Downgraded to Sell

Upgrades/Downgrades:

Morgan Stanley's Omar Sheikh downgraded ITV to Equal Weight from Overweight, setting a price target of 110p, down from 140p. The move is part of the analyst's ratings rebalancing in his Media & Entertainment coverage. Sheikh expects investors to focus on blockchain applications in video games and music this year.

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Exane BNP Paribas analyst Lucas Herrmann downgraded Royal Dutch Shell to Neutral from Outperform. In contrast, Herrmann upgraded BP to Outperform from Neutral.

On Friday, Berenberg analyst Richard Hatch upgraded Rio Tinto to Buy from Hold, raising his price target to 5,500p, from 5,000p. In a research note, Hatch explained that after a 25% underperformance versus BHP in last year, higher iron ore prices and the benefit of index inflows following BHP's exit from the FTSE 100 will allow Rio Tinto shares to outperform.

Also Read: 3 Dividend Stocks For 2022

Liberum analyst Yuen Low downgraded Endeavour Mining to Sell from Hold, setting a 1,316p price target.

In addition, Low double upgraded Centamin to Buy from Sell assigning a 106p price target. The analyst explained they are “reasonably confident” the UG Expansion Study will be positive.

Citi analyst Ankit Prakash downgraded Wise PLC to Sell from Neutral. In addition, the analyst lowered the price target on the stock to 650p, from 1,030p. Prakash told investors in a research note that the shares are pricing in “excessive long-term revenue growth expectations.”

Elsewhere, another Citi analyst, Cedric Besnard, resumed coverage of Unilever with a Buy rating and 4,500p price target. The analyst explained he sees a “strong recovery narrative” for the stock beyond the first half of 2022.

Price Target Changes:

Credit Suisse analyst Mark Freshney increased the price target on Scottish and Southern Energy plc to 1,700p from 1,600p.

Morgan Stanley analyst Patrick Wellington reduced the price target on Pearson to 670p from 720p, maintaining an Equal Weight rating.

Morgan Stanley analyst Patrick Wellington lifted the price target on Relx to 2,750p from 2,280p and kept an Overweight rating.

Aman Rakkar, an analyst at Barclays, raised the price target on NatWest Group to 290p from 280p, maintaining an Overweight rating.