JPMorgan Chase Reaffirms Genel Energy PLC’s “Overweight” Rating

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Genel operations in somaliland helps surge in ther firms shares

Somaliland sun JPMorgan Chase & Co. reaffirmed their overweight rating on shares of Genel Energy PLC (LON:GENL) in a research note published on Wednesday, Market Beatreports. JPMorgan Chase & Co. currently has a GBX 700 ($10.87) price target on the stock.

A number of other equities research analysts also recently issued reports on GENL. Deutsche Bank reaffirmed a buy rating and issued a GBX 700 ($10.87) target price on shares of Genel Energy PLC in a report on Thursday, September 10th. Credit Suisse reissued an outperform rating and set a GBX 685 ($10.63) price objective on shares of Genel Energy PLC in a report on Thursday, August 20th. Canaccord Genuity decreased their target price on shares of Genel Energy PLC from GBX 675 ($10.48) to GBX 650 ($10.09) and set a buy rating on the stock in a research report on Friday, July 17th. Jefferies Group reissued a buy rating and issued a GBX 705 ($10.95) price objective on shares of Genel Energy PLC in a research report on Friday, August 7th. Finally, Barclays restated an equal weight rating and issued a GBX 500 ($7.76) target price on shares of Genel Energy PLC in a research note on Monday, September 14th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Genel Energy PLC has a consensus rating of Buy and an average target price of GBX 619.64 ($9.62).

Shares of Genel Energy PLC (LON:GENL) opened at 321.50 on Wednesday. The company has a 50 day moving average price of GBX 345.39 and a 200-day moving average price of GBX 476.47. The stock’s market cap is GBX 895.00 million. Genel Energy PLC has a 12 month low of GBX 276.25 and a 12 month high of GBX 903.50.

Genel Energy plc is a United Kingdom-based exploration and production company. The Firm is an independent oil producer in the Kurdistan Region of Iraq. The Company is structured along two business sections being the geographical areas in which it runs: Africa and Kurdistan. The African investigation portfolio includes eight licences. It’d operational bases in Erbil, Taq Taq and Suleimaniah; in Ankara, Turkey in the Kurdistan Region, and in London. The Company’s subsidiary companies comprise: Genel Energy Holding Company Ltd, Genel Energy Somaliland Limited, A&T Petroleum Limited, Genel Energy UK Services Limited, Genel Energy Netherlands Holding 2 B., Phoenicia Energy Company Limited, Genel Energy Africa Exploration Limited and Genel Energy Somaliland Limited. financialwisdomworks

Anddedum- Genel energy is a major player in the somaliland energy sector where it leads a consortium of foreign investors in oil exploration so far proven to have deposits in their billion barrels  a fact that saw the Anglo Turkish abadon Morocco in favour of the Horn of Africa country  

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