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Essar Energy (LON:ESSR)‘s stock had its “buy” rating reaffirmed by investment analysts at Nomura in a note issued to investors on Tuesday, American Banking & Market News reports. They currently have a GBX 90 ($1.48) target price on the stock. Nomura’s price target suggests a potential upside of 29.78% from the stock’s previous close.

Essar Energy (LON:ESSR) opened at 69.35 on Tuesday. Essar Energy has a one year low of GBX 66.40 and a one year high of GBX 155.10. The stock’s 50-day moving average is GBX 74.71 and its 200-day moving average is GBX 114.2. The company’s market cap is £903.9 million.

A number of other analysts have also recently weighed in on ESSR. Analysts at Barclays downgraded shares of Essar Energy to an “equal weight” rating in a research note to investors on Thursday, December 19th. They now have a GBX 70 ($1.15) price target on the stock. Separately, analysts at Arden Partners Ltd reiterated a “neutral” rating on shares of Essar Energy in a research note to investors on Tuesday, November 26th. They now have a GBX 100 ($1.64) price target on the stock. Finally, analysts at Citigroup Inc. cut their price target on shares of Essar Energy from GBX 165 ($2.71) to GBX 130 ($2.13) in a research note to investors on Tuesday, November 26th. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Essar Energy has a consensus rating of “Hold” and an average target price of GBX 115 ($1.89).

Essar Energy plc is a holding company. The Company is an India-focused integrated energy company with assets across the power and oil and gas industries.

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