Trican Well Service Ltd. (TCW) Rating Lowered to Market Perform at Raymond James Financial Inc.
Trican Well Service Ltd. (TSE:TCW) was downgraded by analysts at Raymond James Financial Inc. from a “strong-buy” rating to a “market perform” rating in a report issued on Friday. They presently have a C$3.60 price target on the stock, up from their prior price target of C$3.30. Raymond James Financial Inc.’s price target points to a potential upside of 9.76% from the stock’s previous close.
Several other equities analysts also recently issued reports on the stock. Pi Financial downgraded shares of Trican Well Service from a “buy” rating to a “neutral” rating in a research note on Friday. Royal Bank Of Canada restated an “outperform” rating and issued a C$5.00 price objective on shares of Trican Well Service in a research note on Tuesday, September 6th. TD Securities decreased their price objective on shares of Trican Well Service from C$3.00 to C$2.75 and set a “speculative buy” rating for the company in a research note on Monday, August 15th. Scotiabank restated an “outperform” rating and issued a C$3.50 price objective on shares of Trican Well Service in a research note on Monday, August 15th. Finally, Evercore Partners Inc. upped their price objective on shares of Trican Well Service from C$2.00 to C$3.00 in a research note on Wednesday, June 29th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of C$2.79.
Trican Well Service (TSE:TCW) traded down 4.88% during midday trading on Friday, hitting $3.12. The stock had a trading volume of 1,568,969 shares. The stock has a 50 day moving average of $2.38 and a 200 day moving average of $1.98. The stock’s market cap is $602.28 million. Trican Well Service has a 12 month low of $0.34 and a 12 month high of $3.37.
About Trican Well Service
Trican Well Service Ltd. is a Canada-based oilfield services company. The Company provides an array of specialized products, equipment, services and technology for use in the drilling, completion, stimulation and reworking of oil and gas wells in Canada, the United States, Kazakhstan, Russia and Norway, as well as limited operations in Saudi Arabia and Colombia.
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