Petrofac (PFC) Cut to “Neutral” at JPMorgan Chase & Co.
JPMorgan Chase & Co. lowered shares of Petrofac (LON:PFC) to a neutral rating in a research report report published on Monday morning. JPMorgan Chase & Co. currently has GBX 500 ($6.53) price target on the stock, down from their prior price target of GBX 660 ($8.62).
PFC has been the subject of several other reports. HSBC initiated coverage on shares of Petrofac in a report on Tuesday, January 22nd. They issued a buy rating and a GBX 665 ($8.69) target price for the company. Jefferies Financial Group upgraded shares of Petrofac to a buy rating and decreased their target price for the stock from GBX 640 ($8.36) to GBX 590 ($7.71) in a report on Monday, January 7th. Morgan Stanley upgraded shares of Petrofac to an overweight rating in a report on Wednesday, January 16th. Kepler Capital Markets upgraded shares of Petrofac to a buy rating and raised their target price for the stock from GBX 700 ($9.15) to GBX 720 ($9.41) in a report on Wednesday, December 19th. Finally, Sanford C. Bernstein upgraded shares of Petrofac to a market perform rating and decreased their price target for the stock from GBX 500 ($6.53) to GBX 480 ($6.27) in a report on Tuesday, January 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of GBX 674.55 ($8.81).
Shares of PFC opened at GBX 393.60 ($5.14) on Monday. Petrofac has a one year low of GBX 345.20 ($4.51) and a one year high of GBX 941 ($12.30).
Petrofac Company Profile
Petrofac Limited, an oilfield service company, provides facilities solutions to the oil and gas production and processing industry worldwide. It operates through three segments: Engineering & Construction, Engineering & Production Services, and Integrated Energy Services. The Engineering & Construction segment provides engineering, procurement, and construction project execution services to the onshore oil and gas industry.
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