Canaccord Genuity Lowers Tullow Oil (TLW) Price Target to GBX 200
Tullow Oil (LON:TLW) had its target price cut by research analysts at Canaccord Genuity from GBX 220 ($3.04) to GBX 200 ($2.76) in a research report issued on Monday. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity’s price target indicates a potential upside of 12.87% from the stock’s previous close.
Several other brokerages also recently issued reports on TLW. Barclays restated an “overweight” rating and set a GBX 210 ($2.90) price objective on shares of Tullow Oil in a research report on Thursday, January 11th. JPMorgan Chase & Co. lifted their price objective on Tullow Oil from GBX 245 ($3.38) to GBX 255 ($3.52) and gave the stock an “overweight” rating in a research report on Thursday, January 11th. Credit Suisse Group restated an “outperform” rating and set a GBX 240 ($3.32) price objective on shares of Tullow Oil in a research report on Monday, January 8th. Numis Securities lifted their price objective on Tullow Oil from GBX 185 ($2.56) to GBX 215 ($2.97) and gave the stock a “hold” rating in a research report on Monday, January 22nd. Finally, BNP Paribas reaffirmed an “outperform” rating and issued a GBX 260 ($3.59) target price on shares of Tullow Oil in a research note on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Tullow Oil presently has an average rating of “Hold” and an average price target of GBX 228.37 ($3.16).
Shares of Tullow Oil (LON TLW) traded up GBX 1.75 ($0.02) during trading on Monday, hitting GBX 177.20 ($2.45). The company had a trading volume of 9,401,175 shares, compared to its average volume of 9,760,000. Tullow Oil has a 1 year low of GBX 142.30 ($1.97) and a 1 year high of GBX 244.12 ($3.37). The firm has a market cap of $2,460.00 and a P/E ratio of -1,476.67.
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About Tullow Oil
Tullow Oil plc is an independent oil and gas exploration and production company. The Company’s primary activity is the discovery and production of oil and gas. Its segments include West Africa; East Africa, and New Ventures. The West Africa Business focuses on its production and development projects in West Africa and Europe.
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