Canaccord Genuity Reiterates Speculative Buy Rating for Eland Oil & Gas PLC (ELA)
Eland Oil & Gas PLC (LON:ELA)‘s stock had its “speculative buy” rating restated by Canaccord Genuity in a research note issued to investors on Wednesday. They currently have a GBX 110 ($1.37) target price on the stock. Canaccord Genuity’s price target points to a potential upside of 201.37% from the company’s previous close.
ELA has been the subject of several other reports. Panmure Gordon reaffirmed a “buy” rating and set a GBX 95 ($1.19) target price on shares of Eland Oil & Gas PLC in a research report on Thursday, September 22nd. Peel Hunt raised their target price on Eland Oil & Gas PLC from GBX 80 ($1.00) to GBX 90 ($1.12) and gave the stock a “buy” rating in a research report on Tuesday, October 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Eland Oil & Gas PLC presently has a consensus rating of “Buy” and an average target price of GBX 106.25 ($1.33).
Eland Oil & Gas PLC (LON:ELA) opened at 36.75 on Wednesday. Eland Oil & Gas PLC has a 52-week low of GBX 20.50 and a 52-week high of GBX 50.00. The firm’s market capitalization is GBX 70.79 million. The stock’s 50 day moving average price is GBX 39.64 and its 200 day moving average price is GBX 31.97.
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About Eland Oil & Gas PLC
Eland Oil & Gas PLC is focused on building and developing a portfolio of producing upstream oil and gas assets in West Africa. The Company operates in exploration and production of oil and gas reserves in Nigeria segment. The Company’s core assets are the OML 40 license and the Ubima field, both onshore Nigeria.
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