HSBC Initiates Coverage on Africa Oil Corp. (AOI)
Equities research analysts at HSBC began coverage on shares of Africa Oil Corp. (CVE:AOI) in a research note issued to investors on Wednesday, AnalystRatings.NET reports. The firm set an “overweight” rating and a C$10.20 price target on the stock. HSBC’s price objective suggests a potential upside of 26.87% from the stock’s previous close.
A number of other firms have also recently commented on AOI. Analysts at FirstEnergy Capital cut their price target on shares of Africa Oil Corp. from C$16.00 to C$15.00 in a research note on Monday, April 14th. Separately, analysts at RBC Capital cut their price target on shares of Africa Oil Corp. from C$18.00 to C$14.00 in a research note on Monday, March 31st. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Africa Oil Corp. from C$13.00 to C$11.50 in a research note on Friday, March 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Africa Oil Corp. currently has an average rating of “Hold” and a consensus price target of C$12.63.
Africa Oil Corp. (CVE:AOI) last released its earnings data on Friday, March 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.06.
Africa Oil Corp. (CVE:AOI) is a Canada-based international oil and gas exploration and development company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.