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Faroe Petroleum Plc (LON:FPM)‘s stock had its “buy” rating reaffirmed by investment analysts at Numis Securities Ltd in a note issued to investors on Wednesday, Analyst Ratings News reports. They currently have a GBX 154 ($2.53) price objective on the stock. Numis Securities Ltd’s target price points to a potential upside of 26.60% from the company’s current price.

Shares of Faroe Petroleum Plc (LON:FPM) traded up 3.66% during mid-day trading on Wednesday, hitting GBX 127.50. 83,282 shares of the company’s stock traded hands. Faroe Petroleum Plc has a 52 week low of GBX 99.077 and a 52 week high of GBX 151.49. The stock has a 50-day moving average of GBX 116.2 and a 200-day moving average of GBX 122.6.

A number of other firms have also recently commented on FPM. Analysts at Westhouse Securities reiterated a “buy” rating on shares of Faroe Petroleum Plc in a research note to investors on Wednesday. They now have a GBX 185 ($3.04) price target on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Faroe Petroleum Plc from GBX 156 ($2.56) to GBX 160 ($2.63) in a research note to investors on Wednesday, January 15th. They now have a “buy” rating on the stock. Finally, analysts at Nomura raised their price target on shares of Faroe Petroleum Plc from GBX 190 ($3.12) to GBX 200 ($3.28) in a research note to investors on Monday, January 13th. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of GBX 174.65 ($2.87).

Faroe Petroleum plc is engaged in the exploration, appraisal, development and production of oil and gas reserves.

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