Petrofac (OTCMKTS:POFCF) Raised to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Petrofac (OTCMKTS:POFCF) from an underperform rating to a sector perform rating in a research note issued to investors on Thursday, Automated Import reports.

A number of other analysts have also recently issued reports on POFCF. Goldman Sachs Group reiterated a neutral rating and issued a $36.00 target price on shares of General Motors in a research note on Tuesday, March 26th. Morgan Stanley set a $35.00 target price on shares of Tenaris and gave the company a buy rating in a research note on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold.

OTCMKTS POFCF opened at $5.50 on Thursday. The company has a 50 day simple moving average of $5.38. Petrofac has a 12-month low of $4.79 and a 12-month high of $8.80.

About Petrofac

Petrofac Limited, an oilfield service company, provides facilities solutions to the oil and gas production and processing industry worldwide. The company operates through three segments: Engineering & Construction; Engineering & Production Services; and Integrated Energy Services. The Engineering & Construction segment provides engineering, procurement, construction, installation, and commissioning services to the onshore oil and gas industry.

Read More: What does an equal weight rating mean?

Analyst Recommendations for Petrofac (OTCMKTS:POFCF)

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