Canaccord Genuity Group Issues Pessimistic Forecast for Arrow Exploration (LON:AXL) Stock Price

Arrow Exploration (LON:AXL) had its target price lowered by Canaccord Genuity Group from GBX 21 to GBX 20 in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 26.86% from the stock’s previous close.

Arrow Exploration Stock Performance

AXL opened at GBX 15.77 on Wednesday. The company has a market capitalization of £45.07 million, a price-to-earnings ratio of 5.26 and a beta of 1.51. The business’s 50-day moving average price is GBX 12.99 and its two-hundred day moving average price is GBX 13.02. Arrow Exploration has a 1 year low of GBX 10 and a 1 year high of GBX 24. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.71 and a quick ratio of 1.65.

Arrow Exploration Company Profile

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy SA) is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The Company’s business plan is to expand oil production from some of Colombia’s most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins.