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Equities research analysts at Liberum Capital decreased their target price on shares of Faroe Petroleum plc (LON:FPM) from GBX 177 ($3.04) to GBX 169 ($2.90) in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock. Liberum Capital’s price target would suggest a potential upside of 38.07% from the stock’s previous close.

Faroe Petroleum plc (LON:FPM) traded up 0.53% on Wednesday, hitting GBX 122.3979. 357,818 shares of the company’s stock traded hands. 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 128. and its 200-day moving average is GBX 123.2.

Other equities research analysts have also recently issued reports about the stock. Analysts at Oriel Securities Ltd 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 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. Finally, 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. Two analysts have rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of GBX 178.87 ($3.07).

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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