Faroe Petroleum plc’s “Buy” Rating Reaffirmed at Cantor Fitzgerald Europe (FPM)
Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating reiterated by stock analysts at Cantor Fitzgerald Europe in a report issued on Tuesday. They currently have a GBX 195 ($3.28) price target on the stock. Cantor Fitzgerald Europe‘s price objective indicates a potential upside of 41.05% from the company’s current price.
Shares of Faroe Petroleum plc (LON:FPM) traded up 0.69% during mid-day trading on Tuesday, hitting GBX 139.1993. The stock had a trading volume of 503,235 shares. Faroe Petroleum plc has a 52 week low of GBX 99.077 and a 52 week high of GBX 154.888. The stock’s 50-day moving average is GBX 139.1 and its 200-day moving average is GBX 122.1.
A number of other analysts have also recently weighed in on FPM. Analysts at Credit Suisse cut their price target on shares of Faroe Petroleum plc from GBX 134 ($2.26) to GBX 129 ($2.17) in a research note on Tuesday, May 13th. They now have an “underperform” rating on the stock. Separately, analysts at Panmure Gordon cut their price target on shares of Faroe Petroleum plc from GBX 200 ($3.37) to GBX 194 ($3.27) in a research note on Monday, May 12th. They now have a “buy” rating on the stock. Finally, analysts at Westhouse Securities reiterated a “buy” rating on shares of Faroe Petroleum plc in a research note on Monday, May 12th. They now have a GBX 200 ($3.37) price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. Faroe Petroleum plc currently has an average rating of “Buy” and an average price target of GBX 175.67 ($2.96).
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.
To view Cantor Fitzgerald Europe’s full report, visit Cantor Fitzgerald Europe’s official website.
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