Credit Suisse Group AG Initiates Coverage on Petrofac Limited (PFC)
Research analysts at Credit Suisse Group AG initiated coverage on shares of Petrofac Limited (LON:PFC) in a report released on Monday. The brokerage set an “outperform” rating and a GBX 1,100 ($14.36) price target on the stock. Credit Suisse Group AG’s price target would suggest a potential upside of 33.98% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the stock. Liberum Capital reissued a “buy” rating and set a GBX 1,020 ($13.31) price objective on shares of Petrofac Limited in a research report on Thursday, September 15th. Jefferies Group cut shares of Petrofac Limited to a “hold” rating and cut their price objective for the stock from GBX 835 ($10.90) to GBX 800 ($10.44) in a research report on Thursday, September 15th. Canaccord Genuity cut shares of Petrofac Limited to a “hold” rating and set a GBX 850 ($11.10) price objective on the stock. in a research report on Wednesday, September 14th. BNP Paribas reissued a “neutral” rating and set a GBX 875 ($11.42) price objective on shares of Petrofac Limited in a research report on Monday, September 12th. Finally, Barclays PLC reissued an “overweight” rating on shares of Petrofac Limited in a research report on Monday, September 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Petrofac Limited currently has an average rating of “Hold” and a consensus price target of GBX 947.80 ($12.37).
Petrofac Limited (LON:PFC) opened at 831.00 on Monday. The firm’s 50-day moving average price is GBX 827.59 and its 200-day moving average price is GBX 824.16. The firm’s market cap is GBX 2.83 billion. Petrofac Limited has a 12 month low of GBX 635.00 and a 12 month high of GBX 1,016.09.
The business also recently declared a dividend, which will be paid on Friday, October 21st. Stockholders of record on Thursday, September 22nd will be paid a dividend of GBX 0.22 ($0.00) per share. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a dividend yield of 2.06%.
Petrofac Limited Company Profile
Petrofac Limited is an international service provider to the oil and gas production and processing industry. The Company designs, builds, operates and maintains oil and gas facilities, delivered through a range of commercial models, enabling it to respond to the distinct needs of each client and enabling them to manage their assets across the oil and gas life cycle.
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