Canaccord Genuity Group Forecasts Strong Price Appreciation for Gulf Keystone Petroleum (LON:GKP) Stock

Gulf Keystone Petroleum (LON:GKP) had its price objective raised by stock analysts at Canaccord Genuity Group from GBX 185 ($2.31) to GBX 200 ($2.50) in a report issued on Thursday, Marketbeat.com reports. The brokerage currently has a “speculative buy” rating on the oil production company’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 28.45% from the stock’s current price.

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 190 ($2.37) price target on shares of Gulf Keystone Petroleum in a research note on Tuesday, October 8th.

Gulf Keystone Petroleum Price Performance

Shares of LON:GKP opened at GBX 155.70 ($1.94) on Thursday. Gulf Keystone Petroleum has a one year low of GBX 88.75 ($1.11) and a one year high of GBX 172.10 ($2.15). The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 2.18. The company has a market cap of £337.59 million, a price-to-earnings ratio of -5,190.00, a PEG ratio of 0.06 and a beta of 1.22. The firm has a 50 day simple moving average of GBX 147.56 and a 200 day simple moving average of GBX 134.46.

Gulf Keystone Petroleum Company Profile

Gulf Keystone Petroleum Limited engages in oil and gas exploration, development, and production in the Kurdistan Region of Iraq. The company operates Shaikan field that covers an area of approximately 280 square kilometers, which is located north-west of Erbil. It also provides management, support, geological, geophysical, and engineering services.