JPMorgan Chase & Co. Reaffirms “Overweight” Rating for Petrofac (PFC)

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Petrofac (LON:PFC)‘s stock had its “overweight” rating reaffirmed by stock analysts at JPMorgan Chase & Co. in a note issued to investors on Thursday.

A number of other equities research analysts also recently commented on the company. Barclays reissued an “overweight” rating and issued a GBX 850 ($10.96) target price (up previously from GBX 800 ($10.32)) on shares of Petrofac in a report on Monday, August 20th. Morgan Stanley lifted their price target on Petrofac from GBX 475 ($6.13) to GBX 720 ($9.29) and gave the stock an “underweight” rating in a research note on Wednesday, May 16th. Kepler Capital Markets reaffirmed a “buy” rating on shares of Petrofac in a research note on Monday, May 14th. Credit Suisse Group lifted their price target on Petrofac from GBX 460 ($5.93) to GBX 570 ($7.35) and gave the stock a “neutral” rating in a research note on Thursday, May 17th. Finally, Canaccord Genuity lifted their price target on Petrofac from GBX 550 ($7.09) to GBX 600 ($7.74) and gave the stock a “hold” rating in a research note on Tuesday, June 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Petrofac has an average rating of “Hold” and a consensus price target of GBX 636.73 ($8.21).

Petrofac stock opened at GBX 651.80 ($8.41) on Thursday. Petrofac has a one year low of GBX 345.20 ($4.45) and a one year high of GBX 941 ($12.14).

In other news, insider George J. Pierson purchased 858 shares of the business’s stock in a transaction dated Tuesday, July 3rd. The stock was acquired at an average price of GBX 582 ($7.51) per share, with a total value of £4,993.56 ($6,441.64).

Petrofac Company Profile

Petrofac Limited, an oilfield service company, provides facilities solutions to the oil and gas production and processing industry worldwide. It operates through three segments: Engineering & Construction, Engineering & Production Services, and Integrated Energy Services. The Engineering & Construction segment provides engineering, procurement, and construction project execution services to the onshore oil and gas industry.

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Analyst Recommendations for Petrofac (LON:PFC)

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