Westhouse Securities Reiterates “Buy” Rating for Faroe Petroleum plc (FPM)
Faroe Petroleum plc (LON:FPM)‘s stock had its “buy” rating reaffirmed by investment analysts at Westhouse Securities in a note issued to investors on Monday. They currently have a GBX 200 ($3.43) target price on the stock. Westhouse Securities’ target price indicates a potential upside of 60.23% from the company’s current price.
Shares of Faroe Petroleum plc (LON:FPM) opened at 126.00 on Monday. Faroe Petroleum plc has a 52-week low of GBX 96.718 and a 52-week high of GBX 151.20. The stock’s 50-day moving average is GBX 129.6 and its 200-day moving average is GBX 122..
A number of other analysts have also recently weighed in on FPM. 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. Separately, analysts at Oriel Securities Ltd reiterated a “buy” rating on shares of Faroe Petroleum plc in a research note on Thursday, June 19th. They now have a GBX 200 ($3.43) 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 equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target 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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