Faroe Petroleum Plc Receives Buy Rating from Canaccord Genuity (FPM)
Faroe Petroleum Plc (LON:FPM)‘s stock had its “buy” rating reaffirmed by analysts at Canaccord Genuity in a research report issued to clients and investors on Friday, Stock Ratings Network reports. They currently have a GBX 164 ($2.63) price objective on the stock, down from their previous price objective of GBX 166 ($2.66). Canaccord Genuity’s target price would indicate a potential upside of 33.61% from the stock’s previous close.
Shares of Faroe Petroleum Plc (LON:FPM) traded up 0.20% during mid-day trading on Friday, hitting GBX 123.25. The stock had a trading volume of 340,715 shares. Faroe Petroleum Plc has a 52-week low of GBX 99.077 and a 52-week high of GBX 164.00. The stock has a 50-day moving average of GBX 128.3 and a 200-day moving average of GBX 121..
Several other analysts have also recently commented on the stock. Analysts at Panmure Gordon cut their price target on shares of Faroe Petroleum Plc (LON:FPM) from GBX 190 ($3.04) to GBX 184 ($2.95) in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Morgan Stanley downgraded shares of Faroe Petroleum Plc (LON:FPM) from an “equal weight” rating to an “underweight” rating in a research note to investors on Wednesday, September 4th. They now have a GBX 130 ($2.08) price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. Faroe Petroleum Plc currently has a consensus rating of “Buy” and a consensus target price of GBX 179.54 ($2.88).
Faroe Petroleum plc is engaged in the exploration, appraisal, development and production of oil and gas reserves.
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