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Analysts at Canaccord Genuity reduced their price objective on shares of Faroe Petroleum plc (LON:FPM) from GBX 175 ($2.90) to GBX 165 ($2.74) in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective suggests a potential upside of 54.93% from the stock’s previous close.

FPM has been the subject of a number of other recent research reports. Analysts at Oriel Securities Ltd reiterated a “buy” rating on shares of Faroe Petroleum plc in a research note on Thursday, August 14th. They now have a GBX 205 ($3.40) price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Faroe Petroleum plc in a research note on Monday, August 11th. They now have a GBX 138 ($2.29) price target on the stock. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of Faroe Petroleum plc in a research note on Monday, July 28th. They now have a GBX 138 ($2.29) price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of GBX 179.53 ($2.98).

Faroe Petroleum plc (LON:FPM) opened at 106.75 on Tuesday. Faroe Petroleum plc has a 1-year low of GBX 100.548 and a 1-year high of GBX 151.20. The stock’s 50-day moving average is GBX 111.3 and its 200-day moving average is GBX 122..

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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