Karoon Energy Ltd (KRNGF) Receives a Buy from Morgans

In a report released today, Adrian Prendergast from Morgans maintained a Buy rating on Karoon Energy Ltd (KRNGF – Research Report), with a price target of A$2.45. The company’s shares closed last Tuesday at $0.91.

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Prendergast covers the Energy sector, focusing on stocks such as Beach Energy Limited, Karoon Energy Ltd, and Empire Energy Group Limited. According to TipRanks, Prendergast has an average return of 13.2% and a 52.83% success rate on recommended stocks.

Karoon Energy Ltd has an analyst consensus of Strong Buy, with a price target consensus of $1.31, a 43.96% upside from current levels. In a report released today, Citi also maintained a Buy rating on the stock with a A$2.20 price target.

The company has a one-year high of $1.61 and a one-year low of $0.74. Currently, Karoon Energy Ltd has an average volume of 4,826.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KRNGF in relation to earlier this year.