Faroe Petroleum Plc Receives “Buy” Rating from Citigroup Inc. (FPM)

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Faroe Petroleum Plc (LON:FPM)‘s stock had its “buy” rating restated by equities researchers at Citigroup Inc. in a research report issued on Thursday, Analyst Ratings News reports. They currently have a GBX 185 ($3.04) price objective on the stock. Citigroup Inc.’s price objective suggests a potential upside of 69.72% from the stock’s previous close.

A number of other firms have also recently commented on FPM. Analysts at Numis Securities Ltd reiterated a “buy” rating on shares of Faroe Petroleum Plc in a research note to investors on Monday, February 3rd. They now have a GBX 154 ($2.53) price target on the stock. Separately, analysts at Cantor Fitzgerald Europe reiterated a “buy” rating on shares of Faroe Petroleum Plc in a research note to investors on Monday, February 3rd. They now have a GBX 225 ($3.69) price target on the stock. Finally, analysts at Westhouse Securities reiterated a “buy” rating on shares of Faroe Petroleum Plc in a research note to investors on Monday, February 3rd. They now have a GBX 185 ($3.04) price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of GBX 170.05 ($2.79).

Faroe Petroleum plc is an independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic Margin, the North Sea and Norway.

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