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The latest update is out from Petrofac ( (GB:PFC) ).
Petrofac announced that TenneT has terminated its scope of work on the 2GW programme, prompting the company to reassess its restructuring plans, which were at an advanced stage. The company is actively engaging with key creditors and stakeholders to explore alternative options while continuing to focus on client service and operational capability. The termination and restructuring challenges may impact Petrofac’s operations and market positioning, and further updates will be provided in due course.
The most recent analyst rating on (GB:PFC) stock is a Hold with a £0.20 price target. To see the full list of analyst forecasts on Petrofac stock, see the GB:PFC Stock Forecast page.
More about Petrofac
Petrofac is a leading international service provider to the energy industry, offering services such as designing, building, managing, and maintaining oil, gas, refining, petrochemicals, and renewable energy infrastructure. The company primarily operates in the Middle East and North Africa (MENA) region and the UK North Sea, with additional operations in India, South East Asia, and the United States. Petrofac is listed on the London Stock Exchange, though trading is currently suspended pending the publication of its Full Year 2024 Audited Accounts.
Average Trading Volume: 31,706,900
Technical Sentiment Signal: Strong Sell
Current Market Cap: £20.59M
For detailed information about PFC stock, go to TipRanks’ Stock Analysis page.