Arrow Exploration (LON:AXL) Price Target Raised to GBX 28 at Canaccord Genuity Group

Arrow Exploration (LON:AXL) had its price target raised by Canaccord Genuity Group from GBX 22 to GBX 28 in a research report issued to clients and investors on Thursday,London Stock Exchange reports. The brokerage currently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 40.00% from the stock’s current price.

Arrow Exploration Stock Performance

Shares of LON AXL opened at GBX 20 on Thursday. The stock’s fifty day simple moving average is GBX 18.23 and its 200 day simple moving average is GBX 14.28. The stock has a market capitalization of £57.17 million, a price-to-earnings ratio of 6.67 and a beta of 1.51. The company has a quick ratio of 1.65, a current ratio of 1.01 and a debt-to-equity ratio of 0.34. Arrow Exploration has a 52-week low of GBX 10 and a 52-week high of GBX 22.55.

Arrow Exploration Company Profile

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy SA) is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The Company’s business plan is to expand oil production from some of Colombia’s most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins.