Oriel Securities Ltd Reiterates Buy Rating for Faroe Petroleum plc (FPM)
Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating restated by research analysts at Oriel Securities Ltd in a report released on Monday. They currently have a GBX 200 ($3.43) price objective on the stock. Oriel Securities Ltd’s target price would suggest a potential upside of 60.23% from the company’s current price.
Shares of Faroe Petroleum plc (LON:FPM) opened at 125.635 on Monday. Faroe Petroleum plc has a one year low of GBX 96.718 and a one year high of GBX 151.20. The stock has a 50-day moving average of GBX 129.6 and a 200-day moving average of GBX 122..
A number of other analysts have also recently weighed in on FPM. Analysts at Westhouse Securities reiterated a “buy” rating on shares of Faroe Petroleum plc in a research note on Monday. They now have a GBX 200 ($3.43) price target on the stock. Separately, analysts at Credit Suisse reiterated an “underperform” rating on shares of Faroe Petroleum plc in a research note on Monday, June 30th. They now have a GBX 118 ($2.02) price target on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of Faroe Petroleum plc from GBX 195 ($3.34) to GBX 180 ($3.09) in a research note on Wednesday, June 18th. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. Faroe Petroleum plc presently has a consensus rating of “Buy” and a consensus target price of GBX 179.60 ($3.08).
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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