Equities researchers at FirstEnergy Capital lowered their target price on shares of Africa Oil Corp. (CVE:AOI) from C$5.00 to C$4.40 in a research report issued on Wednesday. The firm currently has an “outperform” rating on the stock. FirstEnergy Capital’s price target suggests a potential upside of 91.30% from the company’s current price.
Africa Oil Corp. (CVE:AOI) traded down 0.43% on Wednesday, hitting $2.29. 56,497 shares of the company’s stock traded hands. Africa Oil Corp. has a 52 week low of $1.80 and a 52 week high of $7.48. The stock’s 50-day moving average is $2. and its 200-day moving average is $2.. The company’s market cap is $853.31 million.
Separately, analysts at RBC Capital upgraded shares of Africa Oil Corp. to an “outperform” rating in a research note on Monday, April 20th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Africa Oil Corp. currently has a consensus rating of “Buy” and an average target price of C$11.03.
Africa Oil Corp. (CVE:AOI) is a Canada-based international oil and gas exploration and development company. The Company has oil and gas interests in Kenya, Ethiopia, Puntland (Somalia), and Mali. The Company has acquired and commenced exploration activities on multiple exploration Blocks in East Africa.
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