Canaccord Genuity Group Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy (TSE:TVE) had its target price boosted by equities research analysts at Canaccord Genuity Group from C$5.00 to C$5.75 in a research note issued to investors on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s price target would indicate a potential upside of 29.50% from the company’s current price.

Several other equities analysts have also issued reports on TVE. National Bankshares boosted their price target on Tamarack Valley Energy from C$6.75 to C$7.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their price target on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. BMO Capital Markets raised Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a report on Friday, October 4th. Acumen Capital lifted their price objective on Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Raymond James raised Tamarack Valley Energy to a “hold” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$5.45.

Tamarack Valley Energy Trading Down 4.3 %

Tamarack Valley Energy stock opened at C$4.44 on Thursday. The company has a debt-to-equity ratio of 41.72, a quick ratio of 0.80 and a current ratio of 0.90. The business’s 50-day simple moving average is C$4.22 and its 200-day simple moving average is C$3.95. The firm has a market capitalization of C$2.42 billion, a PE ratio of 19.30 and a beta of 2.49. Tamarack Valley Energy has a 52 week low of C$2.76 and a 52 week high of C$4.70.

Tamarack Valley Energy Company Profile

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.