Afentra PLC 51.5% potential upside indicated by Canaccord Genuity

Afentra PLC with ticker (LON:AET) now has a potential upside of 51.5% according to Canaccord Genuity.

AET.L

Canaccord Genuity set a target price of 80 GBX for the company, which when compared to the Afentra PLC share price of 53 GBX at opening today (21/10/2024) indicates a potential upside of 51.5%. Trading has ranged between 26 (52 week low) and 63 (52 week high) with an average of 639,294 shares exchanging hands daily. The market capitalisation at the time of writing is £116,067,713.

Afentra plc is a United Kingdom-based an upstream oil and gas company. The Company is focused on opportunities in Africa. It has an 30% non-operated interest in the producing Block 3/05 and a 21.33% non-operated interest in the adjacent development Block 3/05A and a 40% non-operating interest in the exploration Block 23, all offshore Angola in the Lower Congo Basin. The Company also holds interest in the Odewayne Block onshore southwestern Somaliland. It also holds a 40% interest in the exploration and appraisal Block 23, located in the Kwanza basin. Block 3/05 is located in the Lower Congo Basin. Block 3/05A, which is located adjacent to Block 3/05, contains the undeveloped discoveries Punja, Caco and Gazela with an estimated in place resource of 0.3 billion barrels. Block 23 is a 5,000 square kilometers exploration and appraisal block located in the Kwanza basin in water depths from 600 to 1,600 meters and has a working petroleum system.