BUZZ-Tullow Oil: Hits 3-mth high after Barclays hikes price target

Thu Oct 6, 2016 5:38am EDT
 
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** Oil company Tullow's shares up 4.4 pct, near the top of the FTSE 250, after Barclays analysts reiterate "overweight" rating on co and hike their price target to 340p from 310p

** Barclays analysts hike valuation of Tullow's South Lokichar oil discoveries in Kenya following a recent field trip by Tullow's partner Africa Oil

** Analysts say Tullow offers attractive leverage to a steady improvement in oil prices; Reuters poll in August sees avg price of Brent at $45.44/barrel in 2016

** Shares set for seventh-straight day of gains, at their highest in three months and top of the Stoxx 600 Oil and Gas Index

** Of 26 analysts on stock, 11 have "buy" or higher, 9 have "hold", 6 have "sell"; 243.6p median PT implies 7 pct downside (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)