Lamprell (LAM) Price Target Cut to GBX 99

Lamprell (LON:LAM) had its target price cut by research analysts at Numis Securities from GBX 119 ($1.61) to GBX 99 ($1.34) in a report issued on Friday. The firm currently has a “buy” rating on the stock. Numis Securities’ price target indicates a potential upside of 29.92% from the company’s current price.

Lamprell (LAM) traded up GBX 1.90 ($0.03) during trading hours on Friday, hitting GBX 76.20 ($1.03). 130,743 shares of the stock traded hands, compared to its average volume of 218,487. The company has a market cap of $262.15 and a price-to-earnings ratio of -205.95. Lamprell has a 12 month low of GBX 56.50 ($0.77) and a 12 month high of GBX 125 ($1.70).

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About Lamprell

Lamprell plc is a United Kingdom-based provider of fabrication, engineering and contracting services to the offshore and onshore oil and gas, and renewable energy industries. The principal activities of the Company and its subsidiaries are the upgrade and refurbishment of offshore jackup rigs; fabrication; assembly and new build construction for the offshore oil and gas and renewable sector, including jackup rigs and liftboats; Floating Production, Storage and Offloading (FPSO) and other offshore and onshore structures, and oilfield engineering services, including the upgrade and refurbishment of land rigs.

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