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Standard and Poor’s has reduced Barclays to “hold” from “buy”, also cutting the target price to 240p from 300p. The broker noted the further risk for potential regulatory fines, with Barclays already facing investigation from various authorities into a number of alleged matters.
Westhouse Securities has maintained its “buy” rating for Bowleven, while increasing the target price to 115p from 95p. The broker thinks Bowleven is an attractively-valued stock in its sector, and news of a drill-to-earn arrangement on its onshore Cameroon Bomono permit was positive.