CIBC Forecasts Strong Price Appreciation for Topaz Energy (TSE:TPZ) Stock

Topaz Energy (TSE:TPZ) had its price target boosted by analysts at CIBC from C$31.00 to C$32.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 17.99% from the company’s current price.

Several other equities analysts have also weighed in on TPZ. National Bankshares increased their target price on Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. ATB Capital lowered Topaz Energy from an “overweight” rating to a “neutral” rating and lifted their price target for the company from C$30.00 to C$31.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group boosted their price objective on Topaz Energy from C$30.00 to C$31.00 in a research note on Monday, December 16th. Raymond James set a C$34.00 price objective on Topaz Energy and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Desjardins raised their target price on Topaz Energy from C$30.00 to C$31.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$31.54.

Topaz Energy Price Performance

Shares of Topaz Energy stock opened at C$27.12 on Friday. The company’s 50-day moving average price is C$27.57 and its two-hundred day moving average price is C$26.46. The stock has a market cap of C$3.93 billion, a PE ratio of 73.30 and a beta of 0.50. Topaz Energy has a 52 week low of C$18.59 and a 52 week high of C$29.51. The company has a current ratio of 2.12, a quick ratio of 7.17 and a debt-to-equity ratio of 37.52.

About Topaz Energy

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.