Goldman Sachs upgrades a batch of smaller European energy companies to Buy - including Coastal...

|By:, SA News Editor

Goldman Sachs upgrades a batch of smaller European energy companies to Buy - including Coastal Energy (CENJF.PK), Gulf Keystone Petroleum (GUKYF.PK) and Heritage Oil (HGOCF.PK) - after underperforming larger peers in the past two years due to falling spot oil prices. The difference between their value and long-dated oil prices is the widest since 2009, “wide enough to offer compelling valuations," the firm says.