Deutsche Bank Upgrades Petrofac Ltd to Buy (PFC)
Petrofac Ltd (LON:PFC) was upgraded by investment analysts at Deutsche Bank to a “buy” rating in a note issued to investors on Monday, Stock Ratings Network.com reports. The firm currently has a GBX 1,500 ($24.60) price objective on the stock, up from their previous price objective of GBX 1,425 ($23.37). Deutsche Bank’s price objective suggests a potential upside of 22.85% from the stock’s previous close.
Shares of Petrofac Ltd (LON:PFC) opened at 1233.875 on Monday. Petrofac Ltd has a 52 week low of GBX 1080.00 and a 52 week high of GBX 1752.00. The stock has a 50-day moving average of GBX 1203.18 and a 200-day moving average of GBX 1307.. The company’s market cap is £4.208 billion.
A number of other firms have also recently commented on PFC. Analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Petrofac Ltd in a research note to investors on Tuesday, December 17th. They now have a GBX 1,509 ($24.75) price target on the stock. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Petrofac Ltd in a research note to investors on Friday, December 6th. They now have a GBX 1,500 ($24.60) price target on the stock. Finally, analysts at Societe Generale reiterated a “buy” rating on shares of Petrofac Ltd in a research note to investors on Friday, December 6th. They now have a GBX 1,560 ($25.59) price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. Petrofac Ltd currently has a consensus rating of “Buy” and a consensus price target of GBX 1,557.76 ($25.55).
Petrofac Limited is engaged in the provision of facilities solutions to the oil and gas production and processing industry.
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