Statoil on the move despite Deutsche Bank downgrade

Statoil (STO +1.9%) enjoys nice gains despite a Deutsche Bank downgrade to Hold from Buy, as energy equities are higher across the board with crude oil prices rising.

The firm feels STO's valuation is full following a period of strong absolute and relative share price performance, yet an active frontier exploration drilling campaign during the remainder of 2014 and expected acceleration in operational momentum in late 2014 and early 2015 - clear points of positive differentiation vs. the sector - should keep tension in the share price.

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