Jefferies Financial Group Reaffirms “Buy” Rating for Ithaca Energy (LON:ITH)

Ithaca Energy (LON:ITH)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Financial Group in a research note issued on Tuesday, Digital Look reports. They presently have a GBX 350 target price on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 27.46% from the company’s previous close.

Separately, Berenberg Bank restated a “buy” rating and set a GBX 270 price target on shares of Ithaca Energy in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of GBX 310.

Ithaca Energy Price Performance

LON:ITH opened at GBX 274.60 on Tuesday. Ithaca Energy has a fifty-two week low of GBX 149.80 and a fifty-two week high of GBX 298.60. The stock’s 50-day moving average is GBX 267.80 and its two-hundred day moving average is GBX 253.07. The stock has a market cap of £4.53 billion, a PE ratio of 17.49 and a beta of 0.34.

Ithaca Energy Company Profile

Ithaca Energy is a leading UK independent exploration and production company focused on the UK North Sea with a strong track record of material value creation. In recent years, the Company has been focused on growing its portfolio of assets through both organic investment programmes and acquisitions and has seen a period of significant M&A driven growth centred upon two transformational acquisitions.

Today, Ithaca Energy is one of the largest independent oil and gas companies in the United Kingdom Continental Shelf (the “UKCS”), with stakes in six of the ten largest fields in the UKCS and two of UKCS’s largest pre-development fields.