Jefferies Financial Group Issues Positive Forecast for Harbour Energy (LON:HBR) Stock Price

Key Points

• Jefferies Financial Group has increased its price target for Harbour Energy from GBX 240 to GBX 290, implying a potential upside of 46.02% from current levels, and maintains a "buy" rating.
• Other analysts, including Berenberg Bank and Canaccord Genuity Group, have also raised their price targets, with a consensus rating of "Moderate Buy" and an average price target of GBX 273.25.
• Harbour Energy has authorized a stock buyback plan that typically indicates the board believes the stock is undervalued, reinforcing positive sentiment towards the company's financial health.

Harbour Energy (LON:HBR - Get Free Report) had its price objective raised by analysts at Jefferies Financial Group from GBX 240 to GBX 290 in a research note issued on Monday,Digital Look reports. The brokerage currently has a "buy" rating on the stock. Jefferies Financial Group's price target indicates a potential upside of 46.02% from the stock's current price.

A number of other research firms have also commented on HBR. Berenberg Bank increased their price target on Harbour Energy from GBX 200 to GBX 220 and gave the stock a "hold" rating in a research report on Friday, August 8th. Canaccord Genuity Group lifted their price target on Harbour Energy from GBX 275 to GBX 285 and gave the company a "buy" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. began coverage on Harbour Energy in a report on Tuesday, September 2nd. They issued an "overweight" rating and a GBX 298 price objective for the company. Finally, Shore Capital restated a "no recommendation" rating on shares of Harbour Energy in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Harbour Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 273.25.

Harbour Energy Trading Up 2.8%

Harbour Energy stock opened at GBX 198.60 on Monday. The business has a 50 day moving average price of GBX 217.73 and a two-hundred day moving average price of GBX 196. The company has a quick ratio of 0.33, a current ratio of 0.82 and a debt-to-equity ratio of 76.75. The stock has a market cap of £2.82 billion, a price-to-earnings ratio of -6.75, a price-to-earnings-growth ratio of 0.04 and a beta of -0.23. Harbour Energy has a 12 month low of GBX 146.40 and a 12 month high of GBX 297.20.

Harbour Energy announced that its board has authorized a stock buyback plan on Thursday, August 7th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Harbour Energy Company Profile

Harbour Energy is the largest London-listed independent oil and gas company with significant positions in Norway, the UK, Germany, Argentina, Mexico, North Africa and South East Asia.

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.