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Economic News

Ophir upgraded by Macquarie

17 July 2017 15:55

Equity research analysts at Macquarie have upgraded their investment rating on Ophir Energy (LON:OPHR) to outperform (from neutral), which they said was due to the potential 19% upside following the recent share price weakness.

Nevertheless, the broker trimmed its target price by 4p to 85p per share, due to small revisions in line with the trading statement update.

"The shares are now back at a level that looks reasonably attractive, and we recommend a trade into the upcoming FID, expected 4Q17," analyst Kate Sloan commented.

At 3:55pm: (LON:OPHR) Ophir Energy share price was -0.37p at 71.63p

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