Peel Hunt reaffirmed their buy rating on shares of Faroe Petroleum (LON:FPM) in a research note released on Wednesday morning. The brokerage currently has a GBX 180 ($2.35) price objective on the oil and gas exploration company’s stock.
A number of other research firms also recently issued reports on FPM. Jefferies Financial Group reissued a buy rating and set a GBX 190 ($2.48) price target on shares of Faroe Petroleum in a research report on Monday, October 22nd. Barclays reissued an underweight rating and set a GBX 145 ($1.89) price target on shares of Faroe Petroleum in a research report on Thursday, August 16th. BMO Capital Markets increased their price target on Faroe Petroleum from GBX 156 ($2.04) to GBX 160 ($2.09) and gave the stock an outperform rating in a research report on Friday, August 17th. Finally, Canaccord Genuity reissued a buy rating and set a GBX 190 ($2.48) price target on shares of Faroe Petroleum in a research report on Tuesday, November 27th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of GBX 171.71 ($2.24).
FPM opened at GBX 152.40 ($1.99) on Wednesday. Faroe Petroleum has a 12-month low of GBX 74.50 ($0.97) and a 12-month high of GBX 116.80 ($1.53).
Faroe Petroleum Company Profile
Faroe Petroleum plc, an independent oil and gas company, engages in the exploration, appraisal, and development of oil and gas fields in Northwest Europe. The company has interests in the Trym, Tambar, Ula, and Ringhorne East fields in Norway; and Blane oil field in the United Kingdom. As of January 1, 2018, it had proven and probable reserves of 114.1 million barrels of oil equivalent.
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