Statoil, Total hit by downgrades at RBC Capital

|About: Statoil ASA (STO)|By:, SA News Editor

Statoil (STO -1.6%) is downgraded to Sector Perform from Top Pick at RBC Capital based on valuation; STO has climbed 33% during the past 12 months, and having reached its price target, RBC thinks it's a good time to take profits even as it regards STO as a well managed, tightly run outfit which continues to transform into a truly international major focused on the upstream.

At the same time, RBC downgrades Total (TOT -1%) to Sector Perform from Outperform, believing the recent pace of share price appreciation looks hard to sustain until closer to delivery from 2016.