Scotiabank analyst Kevin Fisk upgraded Africa Oil to Outperform from Sector Perform with a price target of C$3.50, up from C$3.25. The analyst cites Venus appraisal upside for the upgrade. The Venus appraisal program has started and if it’s successful, indirect interest in Venus could be sold before development spending starts, the analyst tells investors in a research note.
Published first on TheFly
