Genel Energy PLC (LON:GENL) had its price target reduced by investment analysts at Investec from GBX 350 ($4.99) to GBX 230 ($3.28) in a note issued to investors on Monday, ARN reports. The brokerage currently has a “buy” rating on the stock. Investec’s target price suggests a potential upside of 120.10% from the company’s previous close.

Shares of Genel Energy PLC (LON:GENL) opened at 107.50 on Monday. The company has a 50-day moving average price of GBX 145.90 and a 200 day moving average price of GBX 278.75. Genel Energy PLC has a 1-year low of GBX 98.04 and a 1-year high of GBX 682.40. The firm’s market capitalization is GBX 299.26 million.

Several other research firms have also recently weighed in on GENL. JPMorgan Chase & Co. cut their price objective on Genel Energy PLC from GBX 700 ($9.97) to GBX 610 ($8.69) and set an “overweight” rating on the stock in a research report on Thursday, October 8th. Numis Securities Ltd reissued a “hold” rating and issued a GBX 418 ($5.96) price objective on shares of Genel Energy PLC in a research report on Friday, October 16th. Canaccord Genuity cut Genel Energy PLC to a “speculative buy” rating and cut their price objective for the stock from GBX 560 ($7.98) to GBX 450 ($6.41) in a research report on Tuesday, October 20th. Beaufort Securities reissued a “speculative buy” rating on shares of Genel Energy PLC in a research report on Wednesday, October 21st. Finally, Barclays reissued an “equal weight” rating and issued a GBX 500 ($7.12) price objective on shares of Genel Energy PLC in a research report on Wednesday, October 21st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of GBX 422.73 ($6.02).

Genel Energy plc is a United-Kingdom-based exploration and production company. The Company is an independent oil producer in the Kurdistan Region of Iraq. The Company is structured along two business segments being the geographical areas in which it operates: Kurdistan and Africa. The African exploration portfolio consists of eight licences. It had operational bases in Ankara, Turkey; in Taq Taq, Erbil and Suleimaniah in the Kurdistan Region, and in London. The Company’s subsidiaries include: Genel Energy Holding Company Ltd, Genel Energy Somaliland Limited, A&T Petroleum Limited, Genel Energy UK Services Limited, Genel Energy Netherlands Holding 2 B., Phoenicia Energy Company Limited, Genel Energy Africa Exploration Limited and Genel Energy Somaliland Limited.

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