Genel Energy PLC 38.6% potential upside indicated by Canaccord Genuity

Genel Energy PLC with ticker (LON:GENL) now has a potential upside of 38.6% according to Canaccord Genuity.



Canaccord Genuity set a target price of 155 GBX for the company, which when compared to the Genel Energy PLC share price of 112 GBX at opening today (09/05/2023) indicates a potential upside of 38.6%. Trading has ranged between 98 (52 week low) and 195 (52 week high) with an average of 376,703 shares exchanging hands daily. The market capitalisation at the time of writing is £305,038,130.

Genel Energy Plc is an independent oil and gas exploration and production company. The Company operates through two segments: Production and Pre-production. The production segment is comprised of the producing fields on the Tawke PSC (Tawke and Peshkabir), the Taq Taq PSC (Taq Taq) and the Sarta PSC (Sarta), which are located in the Kurdistan Region of Iraq (KRI) and make sales predominantly to the KRG. The pre-production segment is comprised of discovered resources held under the Qara Dagh PSC, the Bina Bawi PSC and the Miran PSC all in the KRI and exploration activity, principally located in Somaliland and Morocco. The Company’s wholly owned subsidiaries include Barrus Petroleum Cote D’Ivoire Sarl, Barrus Petroleum Limited, Genel Energy Africa Exploration Limited, Genel Energy Finance 4 plc, Genel Energy Gas Company Limited, Genel Energy Holding Company Limited, Genel Energy International Limited, Taq Taq Operating Company Limited, and Genel Energy Miran Bina Bawi Limited.