Economy

Amec Foster Wheeler Is Subject Of Serious Fraud Office Probe

Amec Foster Wheeler Is Subject Of Serious Fraud Office Probe”

In early trading, AMFW and Wood Group shares occupied the top two slots on the FTSE 250 fallers list - AMFW was down nearly 5%, or 22,2p at 432.8p, and Wood Group shed almost 4%, or 24.5p at 598.5p. The firm now has GBX 670 ($8.68) price target on the stock, up from their prior price target of GBX 564 ($7.31).

AMFW has been the topic of a number of other reports.

In the case of AMEC Foster Wheeler PLC, the RSI reading has hit 29.8 - by comparison, the universe of energy stocks covered by Energy Stock Channel now has an average RSI of 48.3, the RSI of WTI Crude Oil is at 49.0, the RSI of Henry Hub Natural Gas is presently 47.5, and the 3-2-1 Crack Spread RSI is 56.2.

By GCR Staff0 CommentsThe UK's Serious Fraud Office (SFO) yesterday confirmed it had opened an investigation into engineering firm Amec Foster Wheeler for suspected offences including bribery and corruption. AMEC Foster Wheeler PLC shares are now trading off about 1.2% on the day. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company's stock. Numis Securities Ltd lowered shares of Amec Foster Wheeler PLC from a "buy" rating to a "hold" rating and set a GBX 564 ($7.31) price target on the stock.in a report on Tuesday, March 14th. Following this news, Amec's shares have fallen.

Shares of Amec Foster Wheeler PLC (LON AMFW) traded down 0.96% on Monday, reaching GBX 455.00. Amec Foster Wheeler PLC has a consensus rating of Hold and an average target price of GBX 569.39 ($7.38). Amec Foster Wheeler PLC has a 12-month low of GBX 395.50 and a 12-month high of GBX 631.00. The company's market cap is GBX 1.77 billion.

ILLEGAL ACTIVITY WARNING: "Amec Foster Wheeler PLC (LON:AMFW) Rating Reiterated by Sanford C. Bernstein" was originally posted by Stock Observer and is owned by of Stock Observer.



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