Faroe Petroleum plc Stock Rating Reaffirmed by Credit Suisse (FPM)
Faroe Petroleum plc (LON:FPM)‘s stock had its “underperform” rating restated by equities research analysts at Credit Suisse in a research note issued to investors on Monday. They currently have a GBX 129 ($2.21) target price on the stock. Credit Suisse’s price target suggests a potential upside of 9.29% from the company’s current price.
FPM has been the subject of a number of other recent research reports. Analysts at Panmure Gordon reiterated a “buy” rating on shares of Faroe Petroleum plc in a research note on Friday. They now have a GBX 204 ($3.49) price target on the stock. Separately, analysts at Liberum Capital cut their price target on shares of Faroe Petroleum plc from GBX 177 ($3.03) to GBX 169 ($2.89) in a research note on Wednesday, July 9th. They now have a “buy” rating on the stock. Finally, analysts at Oriel Securities Ltd reiterated a “buy” rating on shares of Faroe Petroleum plc in a research note on Monday, July 7th. They now have a GBX 200 ($3.42) price target on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of GBX 179.60 ($3.07).
Faroe Petroleum plc (LON:FPM) traded down 2.12% on Monday, hitting GBX 115.50. 240,873 shares of the company’s stock traded hands. 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 126.8 and a 200-day moving average of GBX 123.3.
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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