Canaccord Genuity Group Reiterates “Buy” Rating for Touchstone Exploration (LON:TXP)

Touchstone Exploration (LON:TXP)‘s stock had its “buy” rating reissued by investment analysts at Canaccord Genuity Group in a note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a GBX 60 ($0.77) price objective on the stock. Canaccord Genuity Group’s target price points to a potential upside of 167.14% from the company’s current price.

A number of other equities analysts have also commented on the company. Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 60 ($0.77) price target on shares of Touchstone Exploration in a report on Friday, December 13th. Shore Capital reaffirmed a “house stock” rating on shares of Touchstone Exploration in a report on Thursday.

Touchstone Exploration Price Performance

LON:TXP opened at GBX 22.46 ($0.29) on Thursday. The business has a fifty day simple moving average of GBX 23.83 and a two-hundred day simple moving average of GBX 27.80. Touchstone Exploration has a 1 year low of GBX 20.28 ($0.26) and a 1 year high of GBX 54 ($0.70). The company has a market capitalization of £66.13 million, a P/E ratio of -7.52 and a beta of 0.70.

Touchstone Exploration Company Profile

Touchstone Exploration Inc is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. It is one of the largest independent onshore oil producers in Trinidad, with an experienced management and executive team that have a track record of delivering value to shareholders.

The Company’s strategy is to leverage the Board’s extensive oil recovery experience and capability to develop international onshore properties that create shareholder value.

In Trinidad, the Company’s interests in approximately 90,000 gross acres of exploration and development rights make it one of the largest independent onshore oil producers in Trinidad.