Jefferies Group Upgrades Premier Oil PLC (PMO) to Buy
Premier Oil PLC (LON:PMO) was upgraded by research analysts at Jefferies Group to a “buy” rating in a research note issued on Friday. The firm currently has a GBX 88 ($1.10) price target on the oil producer’s stock. Jefferies Group’s price objective suggests a potential upside of 62.96% from the company’s current price.
Several other research firms have also recently weighed in on PMO. Credit Suisse Group AG lifted their target price on Premier Oil PLC from GBX 65 ($0.81) to GBX 70 ($0.87) and gave the company an “underperform” rating in a research note on Friday, August 19th. Beaufort Securities reaffirmed a “speculative buy” rating on shares of Premier Oil PLC in a research note on Friday, August 19th. Deutsche Bank AG reissued a “buy” rating and issued a GBX 90 ($1.12) price target on shares of Premier Oil PLC in a research note on Friday, August 19th. Liberum Capital reissued a “buy” rating and issued a GBX 136 ($1.70) price target on shares of Premier Oil PLC in a research note on Thursday, August 18th. Finally, Canaccord Genuity boosted their price target on Premier Oil PLC from GBX 80 ($1.00) to GBX 85 ($1.06) and gave the company a “hold” rating in a research note on Monday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of GBX 97.63 ($1.22).
Shares of Premier Oil PLC (LON:PMO) opened at 54.00 on Friday. The stock’s 50 day moving average is GBX 66.46 and its 200-day moving average is GBX 68.59. The firm’s market cap is GBX 275.83 million. Premier Oil PLC has a 52-week low of GBX 19.00 and a 52-week high of GBX 82.00.
About Premier Oil PLC
Premier Oil plc is an independent exploration and production company with oil and gas interests in the North Sea, South East Asia, Pakistan, the Falkland Islands and Latin America. The Company is engaged in the business of upstream oil and gas exploration and production. The Company’s operations are located and managed in six business units: the Falkland Islands, Indonesia, Pakistan (including Mauritania), the United Kingdom, Vietnam and the Rest of the World.
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