Petrofac Ltd Upgraded to “Overweight” at HSBC (PFC)
Petrofac Ltd (LON:PFC) was upgraded by equities researchers at HSBC to an “overweight” rating in a research report issued on Monday, StockRatingsNetwork.com reports. The firm currently has a GBX 1,400 ($22.97) target price on the stock. HSBC’s target price would indicate a potential upside of 17.15% from the stock’s previous close.
Shares of Petrofac Ltd (LON:PFC) traded up 3.43% on Monday, hitting GBX 1236.00. The stock had a trading volume of 615,952 shares. Petrofac Ltd has a one year low of GBX 1080.00 and a one year high of GBX 1686.71. The stock’s 50-day moving average is GBX 1208. and its 200-day moving average is GBX 1300.. The company’s market cap is £4.215 billion.
A number of other analysts have also recently weighed in on PFC. Analysts at Barclays reiterated an “underweight” rating on shares of Petrofac Ltd in a research note to investors on Tuesday, February 4th. They now have a GBX 1,655 ($27.15) 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, February 3rd. They now have a GBX 1,500 ($24.61) price target on the stock. Finally, analysts at Investec cut their price target on shares of Petrofac Ltd from GBX 1,500 ($24.61) to GBX 1,410 ($23.13) in a research note to investors on Wednesday, January 22nd. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of GBX 1,526.90 ($25.05).
Petrofac Limited is engaged in the provision of facilities solutions to the oil and gas production and processing industry.
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