Published On: Wed, Sep 14th, 2016

Ithaca Energy Inc. (LON:IAE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Ithaca Energy Inc. (LON:IAE) have been assigned an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is GBX 72.22 ($0.96).
A number of equities research analysts have recently issued reports on IAE shares. Barclays PLC reiterated an “underweight” rating and issued a GBX 70 ($0.93) target price on shares of Ithaca Energy in a research note on Tuesday, August 23rd. Peel Hunt lowered Ithaca Energy to an “add” rating and increased their target price for the company from GBX 40 ($0.53) to GBX 47 ($0.63) in a research note on Tuesday, May 17th. Macquarie lowered their target price on Ithaca Energy from GBX 97 ($1.29) to GBX 96 ($1.28) and set an “outperform” rating for the company in a research note on Friday, August 5th. FinnCap reiterated a “buy” rating and issued a GBX 96 ($1.28) target price on shares of Ithaca Energy in a research note on Tuesday, August 2nd. Finally, Canaccord Genuity reiterated a “hold” rating and issued a GBX 65 ($0.87) target price on shares of Ithaca Energy in a research note on Wednesday, July 13th.

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Shares of Ithaca Energy (LON:IAE) traded down 1.53% during midday trading on Wednesday, reaching GBX 64.25. The company’s stock had a trading volume of 1,256,802 shares. The firm’s market capitalization is GBX 264.57 million. Ithaca Energy has a 1-year low of GBX 16.00 and a 1-year high of GBX 76.00. The company’s 50-day moving average price is GBX 62.51 and its 200 day moving average price is GBX 52.09.
Ithaca Energy Company Profile
Ithaca Energy Inc is a North Sea oil and gas operator engaged in the appraisal and development of the United Kingdom undeveloped discoveries and the exploitation of its existing the United Kingdom producing asset portfolio. The Company is engaged in oil and gas development and production and related activities in a geographical area being the North Sea.

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