Canaccord Genuity cut shares of Petrofac Limited (LON:PFC) to a hold rating in a research report released on Wednesday morning. The brokerage currently has GBX 850 ($11.32) target price on the stock.

PFC has been the subject of several other research reports. Societe Generale reiterated a buy rating and issued a GBX 1,019 ($13.57) price objective on shares of Petrofac Limited in a research note on Wednesday, June 1st. Morgan Stanley lifted their price objective on shares of Petrofac Limited from GBX 700 ($9.32) to GBX 785 ($10.46) and gave the stock an underweight rating in a research note on Wednesday, August 31st. Jefferies Group reiterated a hold rating and issued a GBX 855 ($11.39) price objective on shares of Petrofac Limited in a research note on Tuesday, May 31st. JPMorgan Chase & Co. dropped their price objective on shares of Petrofac Limited from GBX 944 ($12.57) to GBX 913 ($12.16) and set an overweight rating for the company in a research note on Thursday, June 16th. Finally, BNP Paribas reiterated a neutral rating and issued a GBX 830 ($11.05) price objective on shares of Petrofac Limited in a research note on Wednesday, June 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of GBX 947.80 ($12.62).

Shares of Petrofac Limited (LON:PFC) opened at 827.50 on Wednesday. The company’s market capitalization is GBX 2.81 billion. Petrofac Limited has a 52 week low of GBX 635.00 and a 52 week high of GBX 1,016.09. The firm’s 50-day moving average is GBX 823.85 and its 200 day moving average is GBX 826.68.

Petrofac Limited Company Profile

Petrofac Limited is an international service provider to the oil and gas production and processing industry. The Company designs, builds, operates and maintains oil and gas facilities, delivered through a range of commercial models, enabling it to respond to the distinct needs of each client and enabling them to manage their assets across the oil and gas life cycle.

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