Successful Oil Strike11 Jul 2014 09:37
from article:
http://www.watchlistnews.com/faroe-petroleum-plc-price-target-cut-to-gbx-169-fpm/55533/
Faroe Petroleum plc (LON:FPM) had its target price lowered by Liberum Capital from GBX 177 ($3.04) to GBX 169 ($2.90) in a research note released on Wednesday morning. They currently have a buy rating on the stock.
Shares of Faroe Petroleum plc (LON:FPM) opened at 120.00 on Wednesday. Faroe Petroleum plc has a 52-week low of GBX 96.718 and a 52-week high of GBX 151.20. The stock’s 50-day moving average is GBX 128. and its 200-day moving average is GBX 123.2.
A number of other firms have also recently commented on FPM. Analysts at Oriel Securities Ltd reiterated a buy rating on shares of Faroe Petroleum plc in a research note on Monday. They now have a GBX 200 ($3.43) price target on the stock. Separately, analysts at Westhouse Securities reiterated a buy rating on shares of Faroe Petroleum plc in a research note on Monday. They now have a GBX 200 ($3.43) price target on the stock. Finally, analysts at Credit Suisse reiterated an underperform rating on shares of Faroe Petroleum plc in a research note on Monday, June 30th. They now have a GBX 118 ($2.02) price target on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. Faroe Petroleum plc has an average rating of Buy and a consensus target price of GBX 178.87 ($3.07).
Faroe Petroleum plc is an independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic Margin, the North Sea and Norway.
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If Oriel Securities target of 200 GBX comes in, that would be nice rise.
Even the 169 GBX from Liberium is nice.
We have hit oil, so should be looking at good rise here, at least up 30% I would have expected, on this news.