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Westhouse Securities upgraded its rating from “add” to “buy”. The broker said that although the market had “punished” Tullow for a disappointing run in exploration, Tullow has assets that could “potentially deliver top tier production and cash flow growth in coming years”.
Besi reiterated its “sell” rating despite a positive second quarter update. The broker said it remained concerned about the threat of disruptive competition in a number of Vodafone’s markets, including the UK, and noted that the recent results “did little to assuage these fears”.