Ithaca Energy Now Covered by Investec (IAE)
Investment analysts at Investec initiated coverage on shares of Ithaca Energy (LON:IAE) in a note issued to investors on Thursday. The firm set a “buy” rating and a GBX 175 ($2.94) price target on the stock. Investec’s target price would indicate a potential upside of 33.59% from the company’s current price.
A number of other analysts have also recently weighed in on IAE. Analysts at Imperial Capital raised their price target on shares of Ithaca Energy from C$3.15 to C$3.30 in a research note on Thursday, July 24th. They now have an “outperform” rating on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Ithaca Energy from GBX 185 ($3.11) to GBX 180 ($3.03) in a research note on Wednesday, July 23rd. They now have a “buy” rating on the stock. Finally, analysts at Westhouse Securities reiterated a “buy” rating on shares of Ithaca Energy in a research note on Thursday, July 10th. They now have a GBX 190 ($3.20) price target on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of GBX 83.47 ($1.40).
Shares of Ithaca Energy (LON:IAE) traded up 0.19% during mid-day trading on Thursday, hitting GBX 130.25. 579,779 shares of the company’s stock traded hands. Ithaca Energy has a 52-week low of GBX 105.00 and a 52-week high of GBX 165.00. The stock’s 50-day moving average is GBX 140. and its 200-day moving average is GBX 141.9.
Ithaca Energy Inc is a North Sea oil and gas operator. The Company is focused on the appraisal and development of the United Kingdom undeveloped discoveries, the exploitation of its existing United Kingdom producing asset portfolio, and a Norwegian exploration and appraisal business.
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