Canaccord Genuity Group Issues Positive Forecast for Eco (Atlantic) Oil & Gas (LON:ECO) Stock Price

Eco (Atlantic) Oil & Gas (LON:ECO) had its target price increased by Canaccord Genuity Group from GBX 100 to GBX 105 in a research report released on Thursday morning,Digital Look reports. The brokerage currently has a speculative buy rating on the stock.

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 125 price target on shares of Eco (Atlantic) Oil & Gas in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Eco (Atlantic) Oil & Gas presently has a consensus rating of “Buy” and a consensus price target of GBX 115.

Eco (Atlantic) Oil & Gas Price Performance

LON ECO opened at GBX 55 on Thursday. Eco has a 1 year low of GBX 6.79 and a 1 year high of GBX 62. The business’s 50-day moving average is GBX 36.49 and its 200 day moving average is GBX 19.57. The stock has a market capitalization of £188.18 million, a PE ratio of -61.11 and a beta of 1.05.

About Eco (Atlantic) Oil & Gas

Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused oil & gas exploration company with offshore license interests in Guyana, Namibia, and South Africa. Eco aims to deliver material value for its stakeholders through its role in the energy transition to explore for low carbon intensity oil and gas in stable emerging markets close to infrastructure.

Eco has interests in Guyana, South Africa and Namibia, proven jurisdictions with great hydrocarbon potential, and aims to deliver material value for its stakeholders through oil exploration, appraisal and development activities in these stable emerging markets, in partnership with major oil companies.