Energy Revalued—Capricorn’s Price Target Soars as Peel Hunt Turns Bullish

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Capricorn Energy PLC (CNE.L) surged into investor focus as Peel Hunt upgraded its rating from “Add” to “Buy” and sharply raised its target price from 210p to 310p. The move reflects renewed optimism around the company’s asset value and strategic positioning.

Key highlights:

Peel Hunt’s revised analysis pegs Capricorn’s standalone net asset value at 293p
The upgrade follows Capricorn’s combination agreement with NewMed Energy, forming a UKlisted E&P firm focused on MENA gas assets
The new entity will see Capricorn shareholders owning 10.3% of the enlarged group
Peel Hunt’s valuation reflects both cumdividend and exdividend scenarios, with the NewMed deal valuing Capricorn at 271p per share
Shares were trading around 248p at the time of the announcement, suggesting upside potential

Strategic context:

The upgrade signals confidence in Capricorn’s postmerger growth prospects and asset monetization strategy
Analysts expect improved cash flow visibility and operational scale in the MENA region

Sources: Proactive Investors, MarketBeat, Yahoo Finance, PriceTargets.com, Reuters, PTI