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Equities researchers at Investec reduced their price objective on shares of Petrofac Ltd (LON:PFC) from GBX 1,500 ($24.62) to GBX 1,410 ($23.15) in a research report issued on Wednesday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Investec’s price objective points to a potential upside of 12.98% from the stock’s previous close.

Shares of Petrofac Ltd (LON:PFC) opened at 1250.00 on Wednesday. Petrofac Ltd has a 1-year low of GBX 1080.00 and a 1-year high of GBX 1752.00. The stock has a 50-day moving average of GBX 1201. and a 200-day moving average of GBX 1309.. The company’s market cap is £4.263 billion.

A number of other firms have also recently commented on PFC. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Petrofac Ltd in a research note to investors on Wednesday. They now have a GBX 1,500 ($24.62) 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 Monday. They now have a GBX 1,500 ($24.62) price target on the stock. Finally, analysts at Nomura upgraded shares of Petrofac Ltd to a “buy” rating in a research note to investors on Friday, January 17th. They now have a GBX 1,430 ($23.47) price target on the stock, up previously from GBX 1,300 ($21.34). One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of GBX 1,521.90 ($24.98).

Petrofac Limited is engaged in the provision of facilities solutions to the oil and gas production and processing industry.

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