Canaccord Genuity Group Issues Positive Forecast for EnQuest (LON:ENQ) Stock Price

Key Points

• Canaccord Genuity Group raised its price target for EnQuest (LON:ENQ) from GBX 19 to GBX 20, indicating a potential upside of 71.12% from its current price.
• Shore Capital also maintained a "buy" rating with a price target of GBX 28 for EnQuest, contributing to an overall positive outlook for the stock.
• EnQuest's stock is currently trading around GBX 11.69, down 1.5%, with an average target price of GBX 24 based on analyst ratings.

EnQuest (LON:ENQ - Get Free Report) had its price objective hoisted by equities researchers at Canaccord Genuity Group from GBX 19 to GBX 20 in a research note issued on Friday,Digital Look reports. The firm currently has a "buy" rating on the oil and gas development company's stock. Canaccord Genuity Group's price target indicates a potential upside of 71.12% from the stock's current price.

Separately, Shore Capital reaffirmed a "buy" rating and issued a GBX 28 price target on shares of EnQuest in a report on Wednesday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of GBX 24.

EnQuest Stock Down 1.5%

ENQ opened at GBX 11.69 on Friday. The firm has a market capitalization of £217.29 million, a P/E ratio of 238.53, a price-to-earnings-growth ratio of 0.07 and a beta of 1.43. EnQuest has a one year low of GBX 9.95 and a one year high of GBX 16.60. The company has a fifty day moving average price of GBX 12.59 and a 200-day moving average price of GBX 12.81. The company has a debt-to-equity ratio of 208.00, a current ratio of 0.76 and a quick ratio of 0.75.

About EnQuest

EnQuest is providing creative solutions through the energy transition. EnQuest is an independent energy company. We focus on mature late-life assets, responsibly optimising production to provide energy security. Where we can, we repurpose our infrastructure to deliver renewable energy and decarbonisation projects before executing world-class decommissioning.

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