Premier Oil Price Target Lowered to GBX 440 at Nomura (PMO)
Investment analysts at Nomura cut their price target on shares of Premier Oil (LON:PMO) from GBX 450 ($7.42) to GBX 440 ($7.25) in a note issued to investors on Monday, AnalystRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Nomura’s target price indicates a potential upside of 52.78% from the company’s current price.
A number of other analysts have also recently weighed in on PMO. Analysts at Liberum Capital reiterated a “hold” rating on shares of Premier Oil in a research note to investors on Friday, January 10th. They now have a GBX 320 ($5.27) price target on the stock, up previously from GBX 300 ($4.94). Separately, analysts at Deutsche Bank cut their price target on shares of Premier Oil from GBX 592 ($9.76) to GBX 520 ($8.57) in a research note to investors on Wednesday, January 8th. They now have a “buy” rating on the stock. Finally, analysts at Goodbody Stockbrokers Ltd reiterated a “buy” rating on shares of Premier Oil in a research note to investors on Monday, December 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty-five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of GBX 404.68 ($6.67).
Premier Oil (LON:PMO) opened at 287.80 on Monday. Premier Oil has a 52 week low of GBX 291.30 and a 52 week high of GBX 405.00. The stock’s 50-day moving average is GBX 305.5 and its 200-day moving average is GBX 335.. The company’s market cap is £1.523 billion.
Premier Oil plc (LON:PMO) is an independent exploration and production company with oil and gas interests in the North Sea, South East Asia and in the Middle East, Africa and Pakistan regions.
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