Africa Oil Corp. (TSE:AOI) had its target price hoisted by Dundee Securities from C$3.25 to C$3.50 in a report released on Wednesday. The firm currently has a “buy” rating on the stock. Dundee Securities’ target price suggests a potential upside of 53.51% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada dropped their price target on Africa Oil Corp. from C$3.00 to C$2.70 in a research note on Thursday, July 14th. Scotiabank reaffirmed a “sector perform” rating and set a C$3.00 price target on shares of Africa Oil Corp. in a research note on Monday, August 15th. Finally, TD Securities upped their price target on Africa Oil Corp. from C$3.25 to C$3.50 and gave the stock a “speculative buy” rating in a research note on Monday, August 15th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of C$3.24.

Analyst Recommendations for Africa Oil Corp. (TSE:AOI)

Africa Oil Corp. (TSE:AOI) opened at 2.28 on Wednesday. The stock’s 50 day moving average price is $2.06 and its 200 day moving average price is $2.00. Africa Oil Corp. has a 52 week low of $1.53 and a 52 week high of $2.45. The company’s market capitalization is $1.04 billion.

Africa Oil Corp. Company Profile

Africa Oil Corp. (AOC) is a Canada-based oil and gas exploration and development company. The Company has oil and gas interest in Kenya and Ethiopia. The Company focuses on the acquisition, exploration and development of oil and gas assets, located in under-explored geographic areas, in the early phase of the upstream oil and gas life-cycle.

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