Africa Oil Corp. (TSE:AOI) had its price objective hoisted by Dundee Securities from C$3.25 to C$3.50 in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock. Dundee Securities’ price target would suggest a potential upside of 52.84% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Royal Bank Of Canada cut their price objective on shares of Africa Oil Corp. from C$3.00 to C$2.70 in a research report on Thursday, July 14th. Scotiabank restated a “sector perform” rating and issued a C$3.00 price objective on shares of Africa Oil Corp. in a research report on Monday, August 15th. Finally, TD Securities raised their price objective on shares of Africa Oil Corp. from C$3.25 to C$3.50 and gave the company a “speculative buy” rating in a research report on Monday, August 15th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Africa Oil Corp. currently has an average rating of “Hold” and an average price target of C$3.24.

Analyst Recommendations for Africa Oil Corp. (TSE:AOI)

Shares of Africa Oil Corp. (TSE:AOI) traded up 1.33% during trading on Wednesday, reaching $2.29. 272,262 shares of the company’s stock traded hands. Africa Oil Corp. has a 52-week low of $1.53 and a 52-week high of $2.45. The company’s 50-day moving average is $2.04 and its 200 day moving average is $1.99. The company’s market cap is $1.05 billion.

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Africa Oil Corp. Company Profile

Africa Oil Corp. (AOC) is a Canada-based oil and gas exploration and development company. The Company has oil and gas interest in Kenya and Ethiopia. The Company focuses on the acquisition, exploration and development of oil and gas assets, located in under-explored geographic areas, in the early phase of the upstream oil and gas life-cycle.

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