Serica Energy Stock News

Serica Energy PLC (AIM:SQZ) drew renewed backing from Jefferies, which reinstated coverage on Tuesday as production growth prospects outweighed cuts to output and cash flow forecasts. In Wednesday trading, the shares stood at 275.21p, up 4%, while the broker reinstated coverage with a 'buy' rating and a 320p price target.

Serica Energy PLC (AIM:SQZ) has ruled out raising its 32.6683p-a-share offer for Pharos Energy (LSE:PHAR), holding its ground after rival bidder Ratio Petroleum Energy LP increased its proposal. Serica's offer comprises 28.6683p in cash plus a 4.0p special dividend.