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As reported by La Republica, Bank of America and JP Morgan made new recommendations to shareholders about the Ecopetrol’s share. Bank of America described the Ecopetrol’s share as “low performance” and reduced its price objective from US$3 to US$2,75, because they expect the company’s performance will continue to decline by 8% per year through 2014. Meanwhile, JP Morgan said: “The combination of a reduction in production, rising security concerns and ongoing delays in environmental permits will impact the company’s ability to deliver a significant increase in production and operations results in the medium term “.