Credit Suisse has upgraded its recommendation for Molopo Energy to “outperform" from “neutral" given recent share price weakness and following the company’s successful asset sale and solid full-year result.

The company reported net profit of $84.4 million but underlying net loss was $4.3 million, less than half the $9 million loss in fiscal year 2010. Analysts calculate a target price of 90¢s a share.