Berenberg Bank Reaffirms Buy Rating for Ithaca Energy (LON:ITH)

Ithaca Energy (LON:ITH)‘s stock had its “buy” rating reaffirmed by investment analysts at Berenberg Bank in a research note issued on Thursday,Digital Look reports. They currently have a GBX 270 target price on the stock. Berenberg Bank’s target price would indicate a potential upside of 20.75% from the company’s current price.

Separately, Jefferies Financial Group reissued a “buy” rating and set a GBX 210 price target on shares of Ithaca Energy in a research report on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of GBX 226.67.

Ithaca Energy Stock Performance

LON:ITH opened at GBX 223.60 on Thursday. The stock’s 50-day simple moving average is GBX 250.29 and its 200 day simple moving average is GBX 218.43. The company has a market cap of £3.69 billion, a P/E ratio of -43.84 and a beta of 0.31. Ithaca Energy has a 52-week low of GBX 149.80 and a 52-week high of GBX 290.80.

Ithaca Energy Company Profile

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.

Today, Ithaca Energy is one of the largest independent oil and gas companies in the United Kingdom Continental Shelf (the “UKCS”), with stakes in six of the ten largest fields in the UKCS and two of UKCS’s largest pre-development fields.