Petrofac (LON:PFC) Raised to Buy at Berenberg Bank

Petrofac (LON:PFCGet Rating) was upgraded by equities researchers at Berenberg Bank to a “buy” rating in a report released on Friday, Marketbeat reports. The brokerage presently has a GBX 210 ($2.62) price target on the stock, down from their previous price target of GBX 250 ($3.12). Berenberg Bank’s price target suggests a potential upside of 49.87% from the stock’s current price.

PFC has been the topic of a number of other research reports. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Petrofac in a research note on Wednesday, April 20th. Barclays reiterated an “equal weight” rating and issued a GBX 200 ($2.50) target price on shares of Petrofac in a research note on Monday, March 28th.

PFC stock opened at GBX 140.12 ($1.75) on Friday. The business has a 50 day moving average of GBX 114.42 and a 200 day moving average of GBX 122.40. The firm has a market cap of £730.26 million and a PE ratio of -3.14. Petrofac has a twelve month low of GBX 91.05 ($1.14) and a twelve month high of GBX 203.34 ($2.54). The company has a quick ratio of 0.89, a current ratio of 0.99 and a debt-to-equity ratio of 328.69.

In other news, insider Sara Akbar acquired 4,780 shares of Petrofac stock in a transaction that occurred on Tuesday, April 5th. The stock was bought at an average price of GBX 105 ($1.31) per share, for a total transaction of £5,019 ($6,269.83). Also, insider Afonso Reis e Sousa sold 5,622 shares of the firm’s stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of GBX 114 ($1.42), for a total value of £6,409.08 ($8,006.35).

Petrofac Company Profile (Get Rating)

Petrofac Limited designs, builds, manages, and maintains infrastructure for the energy industries in the United Kingdom, Algeria, Thailand, Oman, Kuwait, Iraq, the United Arab Emirates, the Netherlands, and internationally. It operates through three segments: Engineering & Construction (E&C); Asset Solutions; and Integrated Energy Services (IES).

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