Capricorn Energy PLC 32.6% potential upside indicated by Canaccord Genuity

Capricorn Energy PLC with ticker (LON:CNE) now has a potential upside of 32.6% according to Canaccord Genuity.

CNE.L

Canaccord Genuity set a target price of 240 GBX for the company, which when compared to the Capricorn Energy PLC share price of 181 GBX at opening today (01/07/2024) indicates a potential upside of 32.6%. Trading has ranged between 109 (52 week low) and 298 (52 week high) with an average of 218,678 shares exchanging hands daily. The market capitalisation at the time of writing is £132,524,002.

Capricorn Energy PLC is an Egypt-focused energy producer, with a portfolio of onshore exploration, development and production assets in the Western Desert with a producing position in the United Kingdom North Sea. The four concession areas that comprise its production position in the Western Desert are Obaiyed, which includes an onshore gas field; Badr El Din (BED) comprises five producing concessions, both oil and gas; North East Abu Gharadig (NEAG) comprises the concession covering the NEAG Tiba area and the NEAG Extension area; and Alam El Shawish West (AESW) concession area. It has a non-operated participation in three exploration concessions in the Western Desert. The five producing concessions in BED include BED-19, BED-20, BED-2, BED-17, and BED-3. The concession covering the NEAG Tiba area and the NEAG Extension area includes NEAG-1, NEAG-2, NEAG-3, NEAG-5, JG, JD, and SHEIBA. The AESW concession area includes AL ASSIL, AL BARQ, AL KARAM, AL MAGD, and BAHGA.