Africa Oil Corp. (OTCMKTS:AOIFF) Upgraded at Zacks Investment Research

Africa Oil Corp. (OTCMKTS:AOIFF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, October 24th. The brokerage currently has a $1.25 target price on the energy company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 2.38% from the company’s previous close.

According to Zacks, “Africa Oil Corp. is an oil and gas exploration and development company. The Company owns interests in exploration licenses in Kenya, Ethiopia, the Republic of Mali, and Somalia. Africa Oil Corp. is headquartered in Vancouver, Canada. “

Separately, ValuEngine raised Africa Oil Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th.

Shares of Africa Oil Corp. (OTCMKTS:AOIFF) traded up $0.01 during midday trading on Tuesday, hitting $1.22. The company had a trading volume of 8,182 shares, compared to its average volume of 16,185. Africa Oil Corp. has a 1 year low of $1.14 and a 1 year high of $2.14.

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About Africa Oil Corp.

Africa Oil Corp., together with its subsidiaries, operates as an oil and gas exploration and development company in Kenya and Ethiopia. It holds interests primarily in the East African Rift Basin. The company was formerly known as Canmex Minerals Corporation and changed its name to Africa Oil Corp. in August 2007.

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