Afren Plc Raised to Outperform at Credit Suisse (AFR)
Afren Plc (LON:AFR) was upgraded by analysts at Credit Suisse to an “outperform” rating in a research report issued to clients and investors on Wednesday. The firm currently has a GBX 132 ($2.19) price objective on the stock, down from their previous price objective of GBX 177 ($2.94). Credit Suisse’s price objective would suggest a potential upside of 40.13% from the stock’s previous close.
Shares of Afren Plc (LON:AFR) traded up 2.87% during mid-day trading on Wednesday, hitting GBX 96.90. 3,172,895 shares of the company’s stock traded hands. Afren Plc has a 52-week low of GBX 90.20 and a 52-week high of GBX 170.80. The stock’s 50-day moving average is GBX 118.0 and its 200-day moving average is GBX 141.1. The company’s market cap is £1.068 billion.
Several other analysts have also recently commented on the stock. Analysts at Liberum Capital downgraded shares of Afren Plc to a “hold” rating in a research note on Tuesday. They now have a GBX 121 ($2.01) price target on the stock, down previously from GBX 162 ($2.69). Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Afren Plc from GBX 188 ($3.12) to GBX 137 ($2.27) in a research note on Tuesday. They now have an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of GBX 177.06 ($2.94).
Afren plc is an independent oil and gas exploration and production company operating in Africa and the Middle East.
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