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Faroe Petroleum Plc (LON:FPM)‘s stock had its “buy” rating reiterated by Citigroup Inc. in a research note issued on Thursday, AmericanBankingNews.com reports. They currently have a GBX 185 ($3.04) price target on the stock. Citigroup Inc.’s price target would suggest a potential upside of 69.39% from the company’s current price.

A number of other analysts have also recently weighed in on FPM. Analysts at Numis Securities Ltd reiterated a “buy” rating on shares of Faroe Petroleum Plc in a research note to investors on Monday. They now have a GBX 154 ($2.53) price target on the stock. Separately, analysts at Cantor Fitzgerald Europe reiterated a “buy” rating on shares of Faroe Petroleum Plc in a research note to investors on Monday. They now have a GBX 225 ($3.70) price target on the stock. Finally, analysts at Westhouse Securities reiterated a “buy” rating on shares of Faroe Petroleum Plc in a research note to investors on Monday. They now have a GBX 185 ($3.04) price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of GBX 170.05 ($2.79).

Shares of Faroe Petroleum Plc (LON:FPM) traded up 1.13% on Thursday, hitting GBX 109.218. The stock had a trading volume of 414,566 shares. Faroe Petroleum Plc has a one year low of GBX 99.077 and a one year high of GBX 151.49. The stock’s 50-day moving average is GBX 116.2 and its 200-day moving average is GBX 123.0.

Faroe Petroleum plc is an independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic Margin, the North Sea and Norway.

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