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Ophir upgraded by Macquarie

28 November 2016 13:48

Equity research analysts at Macquarie have upgraded their recommendation on Ophir Energy (LON:OPHR) to 'outperform' from 'neutral', which they say is driven by progress on Fortuna LNG and an increasing belief that the JOC will be able to link the LNG price to Brent.

Nevertheless, the broker added: "We continue, however, to prefer stocks that offer attractive near term value creation potential (Tullow Oil, Africa Oil, Hurricane Energy) in addition to undervalued projects."

Macquarie has increased its price target to 95 pence a share (from 72 pence).

At 1:48pm: (LON:OPHR) Ophir Energy share price was -2.87p at 74.63p

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