Petrofac (OTCMKTS:POFCY) Raised to Buy at Berenberg Bank

Petrofac (OTCMKTS:POFCYGet Rating) was upgraded by Berenberg Bank from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

Several other research analysts also recently commented on POFCY. Zacks Investment Research raised shares of Petrofac from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Petrofac from GBX 160 ($2.00) to GBX 170 ($2.12) in a research note on Thursday, April 14th. Finally, Exane BNP Paribas upgraded shares of Petrofac from a “neutral” rating to an “outperform” rating and set a GBX 140 ($1.75) target price on the stock in a report on Friday, April 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to, the stock currently has a consensus rating of “Buy” and an average target price of $103.67.

POFCY stock opened at $0.79 on Tuesday. Petrofac has a one year low of $0.62 and a one year high of $1.23. The company’s 50 day moving average price is $0.75 and its two-hundred day moving average price is $0.80. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.39 and a quick ratio of 1.38.

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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