Africa Oil Corp. (TSE:AOI) had its target price lifted by equities researchers at Dundee Securities from C$3.25 to C$3.50 in a research note issued to investors on Wednesday, reports. The brokerage presently has a “buy” rating on the stock. Dundee Securities’ price objective would indicate a potential upside of 54.87% from the company’s current price.

Several other research analysts have also recently commented on AOI. Scotiabank restated a “sector perform” rating and set a C$3.00 target price on shares of Africa Oil Corp. in a report on Monday, August 15th. Royal Bank Of Canada reduced their target price on shares of Africa Oil Corp. from C$3.00 to C$2.70 in a report on Thursday, July 14th. Finally, TD Securities increased their target price on shares of Africa Oil Corp. from C$3.25 to C$3.50 and gave the stock a “speculative buy” rating in a report on Monday, August 15th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Africa Oil Corp. has an average rating of “Hold” and a consensus target price of C$3.24.

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

Africa Oil Corp. (TSE:AOI) traded up 1.77% on Wednesday, hitting $2.30. 225,905 shares of the stock traded hands. The stock’s market cap is $1.05 billion. The firm’s 50 day moving average is $2.04 and its 200 day moving average is $1.99. Africa Oil Corp. has a 52 week low of $1.53 and a 52 week high of $2.45.

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About Africa Oil Corp.

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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