Canaccord Genuity Group Increases Arrow Exploration (LON:AXL) Price Target to GBX 28

Arrow Exploration (LON:AXL) had its price target raised by analysts at Canaccord Genuity Group from GBX 22 to GBX 28 in a research note issued on Thursday,London Stock Exchange reports. The firm currently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 40.00% from the stock’s previous close.

Arrow Exploration Price Performance

LON:AXL opened at GBX 20 on Thursday. The company has a quick ratio of 1.65, a current ratio of 1.01 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is GBX 18.23 and its 200 day moving average price is GBX 14.28. Arrow Exploration has a 52-week low of GBX 10 and a 52-week high of GBX 22.55. The firm has a market cap of £57.17 million, a P/E ratio of 6.67 and a beta of 1.51.

About Arrow Exploration

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy SA) is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The Company’s business plan is to expand oil production from some of Colombia’s most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins.