Africa Oil Corp. Given Average Recommendation of “Hold” by Analysts (CVE:AOI)
Shares of Africa Oil Corp. (CVE:AOI) have received an average rating of “Hold” from the thirteen brokerages that are covering the company, Analyst Ratings News reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$12.43.
Shares of Africa Oil Corp. (CVE:AOI) opened at 6.55 on Wednesday. Africa Oil Corp. has a 52-week low of $6.43 and a 52-week high of $10.61. The stock’s 50-day moving average is $7.18 and its 200-day moving average is $8.05. The company’s market cap is $2.034 billion.
A number of research firms have recently commented on AOI. Analysts at TD Securities cut their price target on shares of Africa Oil Corp. from C$13.50 to C$13.00 in a research note on Wednesday, July 16th. They now have a “speculative buy” rating on the stock. Separately, analysts at Dundee Securities reiterated a “buy” rating on shares of Africa Oil Corp. in a research note on Wednesday, June 25th. They now have a C$14.70 price target on the stock, down previously from C$14.80. Finally, analysts at CSFB cut their price target on shares of Africa Oil Corp. from C$11.50 to C$11.00 in a research note on Tuesday, May 27th. They now have an “outperform” rating on the stock.
Africa Oil Corp. (CVE:AOI) is a Canada-based international oil and gas exploration and development company.
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