--- title: "Ithaca Energy (LON:ITH) Given \"Buy\" Rating at Jefferies Financial Group" type: "News" locale: "en" url: "https://longbridge.com/en/news/301020955.md" description: "Jefferies Financial Group reiterated a 'buy' rating for Ithaca Energy (LON:ITH) with a GBX 350 price target, suggesting 26.17% upside. Berenberg Bank also issued a 'buy' rating with a GBX 270 target. The consensus rating is 'Buy' with an average target of GBX 310. This follows Ithaca's acquisition of Suncor’s offshore Canadian assets for up to $1.1 billion, a move described as transformational but raising questions about financial flexibility." datetime: "2026-10-06T10:24:35.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/301020955.md) - [en](https://longbridge.com/en/news/301020955.md) - [zh-HK](https://longbridge.com/zh-HK/news/301020955.md) generator: "portal-rs" --- # Ithaca Energy (LON:ITH) Given "Buy" Rating at Jefferies Financial Group Ithaca Energy (LON:ITH - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Jefferies Financial Group in a research report issued on Tuesday, Digital Look reports. They presently have a GBX 350 target price on the stock. Jefferies Financial Group's price objective would suggest a potential upside of 26.17% from the stock's previous close. Get **Ithaca Energy** alerts: Separately, Berenberg Bank reiterated a "buy" rating and issued a GBX 270 price target on shares of Ithaca Energy in a research report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of GBX 310. **View Our Latest Stock Analysis on Ithaca Energy** ## Ithaca Energy Stock Down 1.4% ITH opened at GBX 277.40 on Tuesday. The firm has a market cap of £4.58 billion, a PE ratio of 17.67 and a beta of 0.34. The business has a fifty day simple moving average of GBX 265.97 and a 200-day simple moving average of GBX 252.94. Ithaca Energy has a fifty-two week low of GBX 149.80 and a fifty-two week high of GBX 298.60. ## Key Stories Impacting Ithaca Energy Here are the key news stories impacting Ithaca Energy this week: - Positive Sentiment: Ithaca agreed to acquire Suncor’s portfolio of offshore oil assets in Newfoundland and Labrador. Reports put the transaction value at approximately **$860 million to $1.1 billion**, with the difference likely reflecting varying measures of the consideration. The acquisition provides Ithaca with a North American foothold and was described as “transformational.” Ithaca signs $1.1 billion deal to buy Suncor's offshore Canada assets - Positive Sentiment: The assets are expected to add conventional offshore oil production and reserves, potentially improving Ithaca’s scale, cash-flow generation and portfolio diversification beyond the UK North Sea. The deal also gives the company exposure to established Canadian infrastructure and producing fields rather than relying solely on new developments. Suncor sells offshore Canada oil assets to Ithaca Energy - Positive Sentiment: Peel Hunt supported the strategic rationale, helping investor sentiment and contributing to the initial rise in Ithaca’s shares following the announcement. Ithaca Energy shares rise as Peel Hunt backs Canadian acquisition - Neutral Sentiment: The acquisition marks a significant strategic shift into Canada and could increase Ithaca’s long-term growth potential, but investors will focus on completion conditions, financing, production guidance and the company’s ability to integrate the assets. - Negative Sentiment: The size of the transaction may limit Ithaca’s financial flexibility and could reduce its capacity or appetite to pursue BP assets in the UK North Sea. That potential trade-off introduces execution and capital-allocation risk. Ithaca may be cooling on BP assets with Canada deal ## Ithaca Energy Company Profile (Get Free Report) Ithaca Energy is a leading UK independent exploration and production company focused on the UK North Sea with a strong track record of material value creation. In recent years, the Company has been focused on growing its portfolio of assets through both organic investment programmes and acquisitions and has seen a period of significant M&A driven growth centred upon two transformational acquisitions. Today, Ithaca Energy is one of the largest independent oil and gas companies in the United Kingdom Continental Shelf (the “UKCS”), with stakes in six of the ten largest fields in the UKCS and two of UKCS's largest pre-development fields. ## Further Reading - Five stocks we like better than Ithaca Energy - NVIDIA’s Record High Raises a Bigger Question About How Far the Rally Can Run - A Manufacturing Surprise Could Be a Big Win for These 2 Companies - What a $1 Billion Chip Deal Says About Amazon's AI Ambitions - 3 Stocks Benefiting From AI Demand Just Announced Major Buybacks *This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.* ## Should You Invest $1,000 in Ithaca Energy Right Now? Before you consider Ithaca Energy, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ithaca Energy wasn't on the list. While Ithaca Energy currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here Continue following MarketBeat Add MarketBeat as your preferred source on Google to see our latest stories in your feed. 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