Ithaca Energy (LON:ITH) Sets New 52-Week High – Should You Buy?

Ithaca Energy plc (LON:ITH)’s stock price hit a new 52-week high on Tuesday . The company traded as high as GBX 242.50 and last traded at GBX 235, with a volume of 243709 shares traded. The stock had previously closed at GBX 232.

Analyst Ratings Changes

ITH has been the subject of several research analyst reports. Peel Hunt reaffirmed a “buy” rating and set a GBX 200 target price on shares of Ithaca Energy in a research note on Wednesday, September 17th. Shore Capital reissued a “no recommendation” rating on shares of Ithaca Energy in a report on Tuesday, September 2nd. Finally, Jefferies Financial Group upgraded Ithaca Energy to a “buy” rating and raised their price objective for the company from GBX 145 to GBX 220 in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 210.

Ithaca Energy Price Performance

The firm’s 50-day moving average is GBX 197.65 and its two-hundred day moving average is GBX 174.20. The company has a market cap of £3.84 billion and a P/E ratio of -21.98.

About Ithaca Energy

Ithaca Energy is a leading UK independent exploration and production company focused on the UK North Sea with a strong track record of material value creation. In recent years, the Company has been focused on growing its portfolio of assets through both organic investment programmes and acquisitions and has seen a period of significant M&A driven growth centred upon two transformational acquisitions.