Canaccord Genuity Group Forecasts Strong Price Appreciation for Arrow Exploration (LON:AXL) Stock

Arrow Exploration (LON:AXL) had its target price lifted by equities researchers at Canaccord Genuity Group from GBX 23 to GBX 28 in a note issued to investors on Friday, MarketBeat reports. The firm currently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 30.54% from the stock’s current price.

Arrow Exploration Stock Down 2.5%

AXL stock opened at GBX 21.45 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.65 and a debt-to-equity ratio of 0.34. The firm has a 50 day simple moving average of GBX 17.10 and a 200-day simple moving average of GBX 13.87. The company has a market capitalization of £61.32 million, a P/E ratio of 7.15 and a beta of 1.51. Arrow Exploration has a twelve month low of GBX 10 and a twelve month high of GBX 22.55.

Arrow Exploration Company Profile

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy SA) is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The Company’s business plan is to expand oil production from some of Colombia’s most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins.