Petrofac Limited Rating Lowered to Neutral at Credit Suisse (PFC)
Petrofac Limited (LON:PFC) was downgraded by investment analysts at Credit Suisse to a “neutral” rating in a note issued to investors on Monday, Analyst Ratings Network reports. They currently have a GBX 1,500 ($25.27) price objective on the stock, down from their previous price objective of GBX 1,600 ($26.95). Credit Suisse’s price objective points to a potential upside of 26.37% from the company’s current price.
Shares of Petrofac Limited (LON:PFC) opened at 1187.00 on Monday. Petrofac Limited has a one year low of GBX 1080.00 and a one year high of GBX 1525.00. The stock has a 50-day moving average of GBX 1387.31 and a 200-day moving average of GBX 1308.. The company’s market cap is £4.039 billion.
PFC has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. cut their price target on shares of Petrofac Limited from GBX 1,525 ($25.69) to GBX 1,475 ($24.84) in a research note on Monday, May 12th. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs reiterated a “neutral/cautious” rating on shares of Petrofac Limited in a research note on Friday, May 9th. They now have a GBX 1,296 ($21.83) price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Petrofac Limited in a research note on Friday, May 9th. They now have a GBX 1,500 ($25.27) price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of GBX 1,488.90 ($25.08).
Petrofac Limited is engaged in the provision of facilities solutions to the oil and gas production and processing industry.
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