Canaccord Genuity Group Forecasts Strong Price Appreciation for Seplat Energy (LON:SEPL) Stock

Key Points

• Canaccord Genuity Group has increased its price target for Seplat Energy from GBX 465 to GBX 550, indicating a potential upside of 95.04% from the current price and maintaining a "buy" rating.
• Citigroup also raised its price objective for Seplat Energy from GBX 250 to GBX 325, reflecting a positive sentiment among analysts with two firms rating the stock as a strong buy.
• As of Friday, Seplat Energy's stock opened at GBX 282, with a market capitalization of £1.69 billion and significant production of 48,152 barrels of oil equivalent per day reported in the first nine months of 2023.

Seplat Energy (LON:SEPL - Get Free Report) had its price target upped by research analysts at Canaccord Genuity Group from GBX 465 to GBX 550 in a research note issued to investors on Friday,Digital Look reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective suggests a potential upside of 95.04% from the company's current price.

Separately, Citigroup raised their price objective on Seplat Energy from GBX 250 to GBX 325 and gave the company a "buy" rating in a report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of GBX 437.50.

Seplat Energy Stock Up 0.4%

Seplat Energy stock opened at GBX 282 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.40 and a debt-to-equity ratio of 43.24. Seplat Energy has a 1-year low of GBX 147 and a 1-year high of GBX 287.50. The company has a fifty day simple moving average of GBX 255.59 and a 200 day simple moving average of GBX 221.73. The company has a market cap of £1.69 billion, a P/E ratio of -8.81, a price-to-earnings-growth ratio of 0.09 and a beta of 0.45.

Seplat Energy Company Profile

Seplat Energy is Nigeria's leading indigenous, independent oil and gas producer, producing oil and gas production volumes of 48,152 barrels of oil equivalent per day (boepd) in 9M 2023, including 117 MMscfd (20,083 boepd) of processed natural gas for domestic power generation in 9M 2023. Seplat Energy is focused on powering Nigeria's energy transition.

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