The Haitong Investment Bank climbed the evaluation score of the Portuguese company Galp Energia. The price target of the company went from 12 to 13.5 euros per share. According to the Bank, this improves the company, which has a solid balance sheet, gives possibility of new acquisitions in the area of oil and gas.
Among the possibilities cited by Haitong, Galp should proceed with acquisitions in the area of oil exploration and production in Brazil. To this end, the company will be able to participate in the next auction of oil blocks Brazilians that will happen later this year.
The Galp already have minority stakes in several oil projects in the pre-salt Santos basin and see in Brazil a growth engine and the company's investment in the coming years.