Eco (Atlantic) Oil & Gas (LON:ECO) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Canaccord Genuity raised its price target on Eco (Atlantic) from GBX 100 to GBX 105 and maintained a "speculative buy" rating, implying a potential upside of 91.78% from the prior close.
• Berenberg also reiterated a "buy" with a GBX 125 target, and the two analyst consensus average target for the stock is GBX 115.
• Eco Atlantic is an AIM/TSX‑V oil & gas explorer with offshore interests in Guyana, Namibia and South Africa; the company has a market cap of £187.33m and the stock recently traded around GBX 54.75 (1‑year range GBX 6.79–62).

Eco (Atlantic) Oil & Gas (LON:ECO - Get Free Report) had its target price increased by analysts at Canaccord Genuity Group from GBX 100 to GBX 105 in a research note issued on Thursday,Digital Look reports. The firm currently has a "speculative buy" rating on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 91.78% from the stock's previous close.

Separately, Berenberg Bank restated a "buy" rating and issued a GBX 125 price target on shares of Eco (Atlantic) Oil & Gas in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of GBX 115.

Eco (Atlantic) Oil & Gas Price Performance

Eco (Atlantic) Oil & Gas stock opened at GBX 54.75 on Thursday. The business has a 50 day moving average of GBX 35.97 and a 200-day moving average of GBX 19.32. Eco has a 1 year low of GBX 6.79 and a 1 year high of GBX 62. The company has a market capitalization of £187.33 million, a P/E ratio of -60.83 and a beta of 1.05.

About Eco (Atlantic) Oil & Gas

Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused oil & gas exploration company with offshore license interests in Guyana, Namibia, and South Africa. Eco aims to deliver material value for its stakeholders through its role in the energy transition to explore for low carbon intensity oil and gas in stable emerging markets close to infrastructure. Eco has interests in Guyana, South Africa and Namibia, proven jurisdictions with great hydrocarbon potential, and aims to deliver material value for its stakeholders through oil exploration, appraisal and development activities in these stable emerging markets, in partnership with major oil companies.

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