Oriel Securities Ltd Upgrades Afren Plc to “Buy” (AFR)
Afren Plc (LON:AFR) was upgraded by analysts at Oriel Securities Ltd to a “buy” rating in a research report issued to clients and investors on Thursday. The firm currently has a GBX 125 ($2.10) price objective on the stock, down from their previous price objective of GBX 145 ($2.44). Oriel Securities Ltd’s price target would suggest a potential upside of 26.77% from the company’s current price.
A number of other firms have also recently commented on AFR. Analysts at Investec downgraded shares of Afren Plc to a “hold” rating in a research note on Thursday, July 31st. Separately, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Afren Plc in a research note on Thursday, July 31st. They now have a GBX 120 ($2.02) price target on the stock, down previously from GBX 150 ($2.52). Finally, analysts at RBC Capital reiterated a “sector perform” rating on shares of Afren Plc in a research note on Thursday, July 31st. They now have a GBX 200 ($3.37) price target on the stock. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of GBX 196 ($3.30).
Afren Plc (LON:AFR) traded down 0.90% during mid-day trading on Thursday, hitting GBX 98.60. 13,126,851 shares of the company’s stock traded hands. Afren Plc has a one year low of GBX 91.10 and a one year high of GBX 170.80. The stock has a 50-day moving average of GBX 137.4 and a 200-day moving average of GBX 147.1. The company’s market cap is £1.084 billion.
Afren plc is an independent oil and gas exploration and production company operating in Africa and the Middle East.
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