Canaccord Genuity Group Forecasts Strong Price Appreciation for Arrow Exploration (LON:AXL) Stock
by Michael Walen · The Markets DailyArrow Exploration (LON:AXL – Get Free Report) had its price objective increased by stock analysts at Canaccord Genuity Group from GBX 23 to GBX 28 in a research report issued on Friday, Marketbeat reports. The firm currently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 28.74% from the stock’s current price.
Arrow Exploration Stock Down 1.1%
Shares of LON:AXL traded down GBX 0.25 during trading on Friday, hitting GBX 21.75. 1,460,953 shares of the company’s stock traded hands, compared to its average volume of 775,683. The company has a current ratio of 1.01, a quick ratio of 1.65 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average price of GBX 16.94 and a 200-day moving average price of GBX 13.81. Arrow Exploration has a 52 week low of GBX 10 and a 52 week high of GBX 22.55. The company has a market cap of £62.18 million, a price-to-earnings ratio of 7.25 and a beta of 1.51.
About Arrow Exploration
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.