Canaccord Genuity Group Raises Serica Energy (LON:SQZ) Price Target to GBX 240

Key Points

• Canaccord Genuity Group has raised its price target for Serica Energy from GBX 215 to GBX 240, indicating a potential upside of 17.07% from the last closing price.
• Multiple analysts have rated Serica Energy as a "buy," with a consensus price target of GBX 212 among six research firms.
• Serica Energy operates primarily in the UK, holding significant interests in several oil and gas fields, contributing to its market capitalization of approximately £800.58 million.

Serica Energy (LON:SQZ - Get Free Report) had its target price boosted by investment analysts at Canaccord Genuity Group from GBX 215 to GBX 240 in a note issued to investors on Friday,Digital Look reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 17.07% from the company's previous close.

Several other equities analysts have also commented on SQZ. Peel Hunt reiterated a "buy" rating and set a GBX 207 price objective on shares of Serica Energy in a research report on Tuesday. Shore Capital reaffirmed a "buy" rating on shares of Serica Energy in a research note on Wednesday, September 10th. Jefferies Financial Group reiterated a "buy" rating and set a GBX 190 target price on shares of Serica Energy in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. reiterated a "buy" rating and set a GBX 215 target price on shares of Serica Energy in a report on Wednesday, August 13th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Serica Energy presently has a consensus rating of "Buy" and a consensus price target of GBX 212.

Serica Energy Stock Performance

SQZ opened at GBX 205 on Friday. The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22. The company has a 50 day simple moving average of GBX 171.05 and a two-hundred day simple moving average of GBX 154.38. Serica Energy has a 1-year low of GBX 112 and a 1-year high of GBX 206. The firm has a market cap of £800.58 million, a P/E ratio of -2,562.50, a PEG ratio of 2.15 and a beta of 0.44.

Serica Energy Company Profile

Serica Energy plc, an upstream oil and gas company, identifies, acquires, explores, exploits, and produces oil and gas reserves in the United Kingdom. The company holds 100% interest in the Keith oil field; 98% interest in the Bruce field; and 50% interest in the Rhum gas field located in the Northern North Sea, as well as 18% non-operating interest in the Erskine field located in Central North Sea.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.