Royal Bank of Canada Downgrades Petrofac Limited (PFC) to Underperform

Royal Bank of Canada lowered shares of Petrofac Limited (LON:PFC) to an underperform rating in a report issued on Friday morning. The brokerage currently has GBX 400 ($5.14) price target on the stock, down from their previous price target of GBX 1,000 ($12.85).

Several other equities research analysts also recently commented on the stock. Credit Suisse Group AG downgraded shares of Petrofac Limited to a neutral rating and reduced their target price for the company from GBX 1,125 ($14.45) to GBX 425 ($5.46) in a research note on Friday, May 26th. Barclays PLC restated an overweight rating on shares of Petrofac Limited in a research note on Friday, May 26th. Deutsche Bank AG restated a sell rating and issued a GBX 600 ($7.71) target price on shares of Petrofac Limited in a research note on Friday, May 26th. Goldman Sachs Group Inc restated a buy rating and issued a GBX 1,020 ($13.10) target price on shares of Petrofac Limited in a research note on Monday, April 10th. Finally, BNP Paribas restated a neutral rating and issued a GBX 840 ($10.79) target price on shares of Petrofac Limited in a research note on Monday, March 20th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Petrofac Limited currently has an average rating of Hold and an average price target of GBX 859.33 ($11.04).

Shares of Petrofac Limited (PFC) opened at 374.40 on Friday. The stock’s market cap is GBX 1.27 billion. The firm has a 50 day moving average of GBX 730.16 and a 200 day moving average of GBX 846.17. Petrofac Limited has a one year low of GBX 351.50 and a one year high of GBX 978.50.

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About Petrofac Limited

Petrofac Limited is a service provider to the oil and gas production and processing industry. The Company designs and builds oil and gas facilities; operates, maintains and manages facilities and trains personnel; enhances production, and develops and co-invests in upstream and infrastructure projects.

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