Serica Energy (LON:SQZ) Price Target Raised to GBX 310

Key Points

• Canaccord Genuity raised its target on Serica Energy from GBX 230 to GBX 310 and maintained a "buy" rating, implying roughly a 6.16% upside from the prior close.
• The broader analyst consensus is still "Buy" (seven analysts) with an average target of GBX 247.86, while shares traded at about GBX 292 mid‑day—near the 12‑month high and on above‑average volume—indicating strong market interest.

Serica Energy (LON:SQZ - Get Free Report) had its target price increased by equities researchers at Canaccord Genuity Group from GBX 230 to GBX 310 in a report issued on Monday,London Stock Exchange reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 6.16% from the company's previous close.

A number of other equities research analysts have also recently issued reports on SQZ. Panmure Gordon cut their target price on Serica Energy from GBX 270 to GBX 238 and set a "buy" rating on the stock in a research note on Tuesday, December 2nd. Shore Capital Group reiterated a "buy" rating on shares of Serica Energy in a research report on Thursday. Finally, Berenberg Bank reissued a "buy" rating and issued a GBX 300 price objective on shares of Serica Energy in a report on Thursday. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of GBX 247.86.

Serica Energy Stock Performance

Shares of LON SQZ traded up GBX 18 during mid-day trading on Monday, hitting GBX 292. The company had a trading volume of 6,976,570 shares, compared to its average volume of 3,963,004. Serica Energy has a 12 month low of GBX 112 and a 12 month high of GBX 296.50. The stock has a market cap of £1.14 billion, a price-to-earnings ratio of -36.50, a PEG ratio of 2.15 and a beta of 0.78. The company has a debt-to-equity ratio of 33.93, a current ratio of 1.14 and a quick ratio of 1.22. The firm's 50 day simple moving average is GBX 235.12 and its two-hundred day simple moving average is GBX 203.30.

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. It also has 50% interest in the Columbus development; and 20% interest in the Skerryvore and Ruvaal prospects located in Central North Sea, as well as 100% interest in the North and South Eigg exploration prospects located in the Northern North Sea.

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