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Canaccord Genuity lowered their target price on shares of Premier Oil (LON:PMO) from GBX 450 ($7.40) to GBX 425 ($6.98) in a research note issued on Tuesday, Analyst RN reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price target suggests a potential upside of 46.00% from the company’s current price.

A number of other firms have also recently commented on PMO. Analysts at Barclays reiterated an “overweight” rating on shares of Premier Oil in a research note to investors on Tuesday. They now have a GBX 535 ($8.79) price target on the stock. Separately, analysts at Societe Generale reiterated a “hold” rating on shares of Premier Oil in a research note to investors on Monday. They now have a GBX 320 ($5.26) price target on the stock. Finally, analysts at Numis Securities Ltd reiterated a “buy” rating on shares of Premier Oil in a research note to investors on Monday. They now have a GBX 388 ($6.38) price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the stock. Premier Oil has a consensus rating of “Buy” and an average target price of GBX 386.80 ($6.36).

Premier Oil (LON:PMO) traded up 8.58% on Tuesday, hitting GBX 291.10. 6,075,996 shares of the company’s stock traded hands. Premier Oil has a one year low of GBX 267.60 and a one year high of GBX 405.00. The stock’s 50-day moving average is GBX 298.4 and its 200-day moving average is GBX 329.4. The company’s market cap is £1.540 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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