Trade Report: Today: Macquarie Trims Ithaca Energy Inc. (IAE) Target Price to GBX 101

Today: Macquarie Trims Ithaca Energy Inc. (IAE) Target Price to GBX 101

Ithaca Energy Inc. (LON:IAE) had its price objective reduced by investment analysts at Macquarie from GBX 106 ($1.32) to GBX 101 ($1.26) in a note issued to investors on Monday. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price target would indicate a potential upside of 21.05% from the stock’s current price.

Several other research firms have also recently weighed in on IAE. Peel Hunt reaffirmed a “hold” rating and set a GBX 64 ($0.80) price objective on shares of Ithaca Energy in a research report on Tuesday, August 2nd. FinnCap reaffirmed a “buy” rating and set a GBX 96 ($1.20) price objective on shares of Ithaca Energy in a research report on Tuesday, August 2nd. Canaccord Genuity raised shares of Ithaca Energy to a “buy” rating and upped their price objective for the stock from GBX 65 ($0.81) to GBX 85 ($1.06) in a research report on Tuesday, August 16th. Finally, Barclays PLC reaffirmed an “underweight” rating and set a GBX 85 ($1.06) price objective on shares of Ithaca Energy in a research report on Tuesday, November 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of GBX 79.50 ($0.99).

Shares of Ithaca Energy (LON:IAE) opened at 80.50 on Monday. Ithaca Energy has a 12 month low of GBX 16.00 and a 12 month high of GBX 93.00. The firm’s market cap is GBX 331.49 million. The stock’s 50 day moving average is GBX 81.78 and its 200 day moving average is GBX 66.44.

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