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Petroneft Resources PLC (LON:PTR) was downgraded by investment analysts at Canaccord Genuity to a “hold” rating in a note issued to investors on Wednesday, Stock Ratings Network reports. They currently have a GBX 6 ($0.10) target price on the stock, down from their previous target price of GBX 9 ($0.15). Canaccord Genuity’s target price suggests a potential upside of 30.43% from the company’s current price.

Petroneft Resources PLC (LON:PTR) traded up 1.10% during mid-day trading on Wednesday, hitting GBX 4.60. 8,890,739 shares of the company’s stock traded hands. Petroneft Resources PLC has a 1-year low of GBX 2.51 and a 1-year high of GBX 6.25. The stock has a 50-day moving average of GBX 4.39 and a 200-day moving average of GBX 3.7.

Separately, analysts at Goodbody Stockbrokers Ltd reiterated a “buy” rating on shares of Petroneft Resources PLC in a research note to investors on Tuesday, December 3rd. They now have a GBX 7.70 ($0.13) price target on the stock.

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