Fortum Oyj (OTCMKTS:FOJCY) Receives Average Rating of “Buy” from Brokerages

Shares of Fortum Oyj (OTCMKTS:FOJCYGet Rating) have received a consensus recommendation of “Buy” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $21.25.

FOJCY has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Fortum Oyj from €17.30 ($18.60) to €18.50 ($19.89) and gave the company a “hold” rating in a research note on Wednesday, May 18th. SEB Equities upgraded Fortum Oyj from a “hold” rating to a “buy” rating in a research report on Friday, May 13th. Barclays reduced their target price on Fortum Oyj from €30.00 ($32.26) to €24.00 ($25.81) and set an “overweight” rating for the company in a research report on Monday, February 28th. AlphaValue cut Fortum Oyj to a “buy” rating in a report on Monday, March 7th. Finally, Danske upgraded Fortum Oyj from a “hold” rating to a “buy” rating in a report on Friday, May 13th.

Shares of OTCMKTS:FOJCY traded up $0.01 during midday trading on Wednesday, reaching $3.60. 5,229 shares of the company traded hands, compared to its average volume of 12,833. Fortum Oyj has a 12 month low of $3.05 and a 12 month high of $6.50. The firm’s fifty day moving average price is $3.49 and its two-hundred day moving average price is $4.62.

The business also recently announced a dividend, which was paid on Thursday, April 21st. Stockholders of record on Wednesday, March 30th were paid a $0.1417 dividend. This represents a dividend yield of 8.12%. The ex-dividend date was Tuesday, March 29th.

About Fortum Oyj (Get Rating)

Fortum Oyj, together with its subsidiaries, engages in the generation and sale of electricity and heat in the Nordic countries, Germany, the United Kingdom, Russia, the Netherlands, the Baltic Rim area, and internationally. The company's Generation segment generates power through nuclear, hydro, wind, and thermal resources; and provides power portfolio optimization, trading, and industrial intelligence, as well as nuclear services.

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