Goldman Sachs, the Wall Street investment bank, decided to improve the target price for Galp Energia shares for the next 12 months, setting it at 26 euros per share.
The Portuguese oil company thus sees its appreciation potential reinforced by the American bank, which maintains the "buy" recommendation for the company's shares.
The upward revision occurs at a favorable time for the oil sector, with crude prices trading at May highs, which has been driving investor interest in energy sector companies.
This oil "rally" has been benefiting companies like Galp, which sees its valuation improve both through the appreciation of its main asset and the favorable prospects of the energy market.
