Petrofac (PFC) Price Target Increased to GBX 440 by Analysts at Credit Suisse Group
Petrofac (LON:PFC) had its price target hoisted by investment analysts at Credit Suisse Group from GBX 435 ($5.85) to GBX 440 ($5.92) in a research note issued to investors on Thursday. The firm currently has a “neutral” rating on the stock. Credit Suisse Group’s price target points to a potential downside of 3.17% from the stock’s previous close.
Several other analysts have also recently issued reports on the stock. Kepler Capital Markets reduced their price target on shares of Petrofac from GBX 700 ($9.42) to GBX 600 ($8.08) and set a “buy” rating on the stock in a research report on Tuesday, September 19th. Goldman Sachs Group increased their price target on shares of Petrofac from GBX 559 ($7.52) to GBX 566 ($7.62) and gave the stock a “buy” rating in a research report on Thursday, September 14th. Numis Securities reissued a “buy” rating and set a GBX 600 ($8.08) price target on shares of Petrofac in a research report on Tuesday, September 12th. J P Morgan Chase & Co reissued an “overweight” rating and set a GBX 570 ($7.67) price target on shares of Petrofac in a research report on Tuesday, September 12th. Finally, Societe Generale reissued a “buy” rating and set a GBX 530 ($7.13) price target on shares of Petrofac in a research report on Friday, September 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of GBX 597.88 ($8.05).
Shares of Petrofac (LON:PFC) traded up GBX 3.30 ($0.04) on Thursday, hitting GBX 454.40 ($6.12). 2,162,213 shares of the stock traded hands, compared to its average volume of 2,960,000. Petrofac has a 1-year low of GBX 4.24 ($0.06) and a 1-year high of GBX 955 ($12.85).
Petrofac Limited is a service provider to the oil and gas production and processing industry. The Company designs and builds oil and gas facilities; operates, maintains and manages facilities and trains personnel; enhances production, and develops and co-invests in upstream and infrastructure projects.
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