Soco International Downgraded by Bank of America Corp. to Neutral (SIA)
Soco International (LON:SIA) was downgraded by equities research analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, AmericanBankingNews.com reports. They currently have a GBX 420 ($6.70) price objective on the stock, down from their previous price objective of GBX 536 ($8.56). Bank of America Corp.’s target price points to a potential upside of 5.53% from the company’s current price.
A number of other firms have also recently commented on SIA. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Soco International from GBX 453 ($7.23) to GBX 461 ($7.36) in a research note to investors on Monday. They now have a “neutral” rating on the stock. Separately, analysts at BNP Paribas reiterated a “neutral” rating on shares of Soco International in a research note to investors on Thursday, October 3rd. They now have a GBX 425 ($6.78) price target on the stock. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of Soco International in a research note to investors on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Soco International currently has a consensus rating of “Hold” and an average price target of GBX 398.95 ($6.37).
Shares of Soco International (LON:SIA) traded down 2.14% on Monday, hitting GBX 398.00. The stock had a trading volume of 536,492 shares. Soco International has a 52-week low of GBX 315.00 and a 52-week high of GBX 437.40. The stock’s 50-day moving average is GBX 390.0 and its 200-day moving average is GBX 380.2. The company’s market cap is £1.306 billion.
SOCO International plc is an international oil and gas exploration and production company. The Company has oil and gas interests in Vietnam, which includes Block 9-2 and Block 16-1; Republic of Congo (LON:SIA), which includes Marine XI Block and Marine XIV Block, the Democratic Republic of Congo (Kinshasa), consists of Nganzi block and Block V and Angola, which include Cabinda Onshore North Block.
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