Afren (LON: AFR) was downgraded by equities research analysts at JPMorgan Chase & Co. to an “underweight” rating in a research note issued to investors on Thursday, ARN reports. They currently have a GBX 165 ($2.45) target price on the stock. JPMorgan Chase & Co.’s price target would suggest a potential upside of 22.59% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at JP Morgan Cazenove reiterated a “neutral” rating on shares of Afren in a research note to investors on Monday. Separately, analysts at Westhouse Securities reiterated a “buy” rating on shares of Afren in a research note to investors on Friday, July 5th. They now have a GBX 160 ($2.38) price target on the stock. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Afren in a research note to investors on Friday, July 5th. They now have a GBX 220 ($3.27) price target on the stock.
Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of GBX 177.38 ($2.64).
Afren (LON: AFR) traded up 2.15% on Thursday, hitting GBX 137.50. Afren has a 52-week low of GBX 110.10 and a 52-week high of GBX 162.00. The stock’s 50-day moving average is currently GBX 137.2. The company’s market cap is £1.497 billion.
Afren plc (LON: AFR) is engaged in oil and gas exploration, development and production in Africa and the Kurdistan region of Iraq.