Faroe Petroleum (FPM) Given New GBX 175 Price Target at Peel Hunt

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Faroe Petroleum (LON:FPM) had its price objective decreased by Peel Hunt from GBX 180 ($2.35) to GBX 175 ($2.29) in a report released on Tuesday. Peel Hunt currently has a buy rating on the oil and gas exploration company’s stock.

A number of other brokerages have also commented on FPM. Jefferies Financial Group restated a buy rating and set a GBX 190 ($2.48) price objective on shares of Faroe Petroleum in a report on Monday, October 22nd. Barclays reiterated an equal weight rating on shares of Faroe Petroleum in a research note on Tuesday, December 18th. Finally, Canaccord Genuity reiterated a buy rating and issued a GBX 190 ($2.48) price target on shares of Faroe Petroleum in a research note on Tuesday, November 27th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of GBX 168.14 ($2.20).

Shares of LON:FPM opened at GBX 160 ($2.09) on Tuesday. 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.

Read More: What is a Leveraged Buyout (LBO)?

Analyst Recommendations for Faroe Petroleum (LON:FPM)

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