Credit Suisse Group AG Initiates Coverage on Petrofac Limited (PFC)
Equities research analysts at Credit Suisse Group AG began coverage on shares of Petrofac Limited (LON:PFC) in a report issued 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 suggests a potential upside of 33.98% from the company’s previous close.
A number of other equities analysts have also recently issued reports on the company. Canaccord Genuity raised Petrofac Limited to a “buy” rating and increased their target price for the stock from GBX 775 ($10.12) to GBX 850 ($11.10) in a report on Tuesday, July 5th. Societe Generale reissued a “buy” rating and issued a GBX 921 ($12.02) target price on shares of Petrofac Limited in a report on Wednesday, June 29th. Jefferies Group raised Petrofac Limited to a “buy” rating and dropped their target price for the stock from GBX 855 ($11.16) to GBX 835 ($10.90) in a report on Wednesday, June 29th. Finally, Liberum Capital reissued a “buy” rating and issued a GBX 1,000 ($13.05) target price on shares of Petrofac Limited in a report on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of GBX 947.80 ($12.37).
Shares of Petrofac Limited (LON:PFC) opened at 831.00 on Monday. The firm’s market cap is GBX 2.83 billion. Petrofac Limited has a one year low of GBX 635.00 and a one year high of GBX 1,016.09. The stock has a 50 day moving average price of GBX 827.59 and a 200 day moving average price of GBX 824.16.
The firm also recently announced a dividend, which will be paid on Friday, October 21st. Shareholders of record on Thursday, September 22nd will be issued a dividend of GBX 0.22 ($0.00) per share. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a 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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