MARKET TALK: Morgan Stanley Raises Tullow Oil Price Target

27th Jul 2010 07:42

0642 GMT [Dow Jones] Morgan Stanley raises Tullow Oil (TLW.LN) price target to 1550p from 1500p following the announcement of a significant new find offshore Ghana. Says the find should remind investors that the exploration story is far from over at Tullow. "Newsflow in the coming weeks should be supportive in our opinion and there should be further enthusiasm as the Ghana campaign moves on to drill the Onyina prospect." Maintains overweight rating on the stock. Shares closed Monday at 1239p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 27, 2010 02:42 ET (06:42 GMT)