Premier Oil (LON:PMO) had its target price dropped by equities researchers at Canaccord Genuity from GBX 130 ($1.76) to GBX 120 ($1.63) in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the oil producer’s stock. Canaccord Genuity’s target price points to a potential upside of 32.23% from the stock’s previous close.
Several other analysts have also recently commented on the company. Peel Hunt reissued an “under review” rating on shares of Premier Oil in a report on Friday, January 12th. Jefferies Group raised their price target on Premier Oil from GBX 90 ($1.22) to GBX 110 ($1.49) and gave the company a “buy” rating in a report on Wednesday, December 20th. Royal Bank of Canada cut Premier Oil to a “sector performer” rating and set a GBX 100 ($1.36) price target for the company. in a report on Tuesday, January 16th. Deutsche Bank raised their price target on Premier Oil from GBX 67 ($0.91) to GBX 70 ($0.95) and gave the company a “hold” rating in a report on Friday, November 17th. Finally, Credit Suisse Group reissued an “underperform” rating and issued a GBX 60 ($0.81) price target on shares of Premier Oil in a report on Thursday, December 7th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of GBX 92.11 ($1.25).
Premier Oil (PMO) opened at GBX 90.75 ($1.23) on Friday. Premier Oil has a 12 month low of GBX 42.75 ($0.58) and a 12 month high of GBX 104.56 ($1.42).
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About Premier Oil
Premier Oil plc is an independent exploration and production company with oil and gas interests in the North Sea, South East Asia, Pakistan, the Falkland Islands and Latin America. The Company is engaged in the business of upstream oil and gas exploration and production. The Company’s operations are located and managed in six business units: the Falkland Islands, Indonesia, Pakistan (including Mauritania), the United Kingdom, Vietnam and the Rest of the World.
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