Birchcliff Energy Ltd. (BIR) Price Target Increased to C$12.00 by Analysts at RBC Capital Markets
Birchcliff Energy Ltd. (TSE:BIR) had its price target hoisted by RBC Capital Markets from C$11.00 to C$12.00 in a note issued to investors on Thursday. RBC Capital Markets’ price target would indicate a potential upside of 31.00% from the stock’s current price.
Several other analysts also recently issued reports on the company. TD Securities lowered their price target on Birchcliff Energy from C$12.00 to C$5.00 and set a “buy” rating for the company in a report on Thursday, July 14th. Scotiabank upgraded Birchcliff Energy from a “sector perform” rating to a “focus stock” rating and raised their target price for the company from C$7.00 to C$12.00 in a research note on Thursday, July 14th. CIBC raised their target price on Birchcliff Energy from C$7.00 to C$10.00 in a research note on Thursday, July 14th. Canaccord Genuity raised their target price on Birchcliff Energy from C$11.50 to C$12.00 in a research note on Monday, July 25th. Finally, Royal Bank Of Canada raised their target price on Birchcliff Energy from C$6.00 to C$8.00 and gave the company an “outperform” rating in a research note on Thursday, June 23rd. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Birchcliff Energy presently has a consensus rating of “Buy” and a consensus target price of C$9.75.
Birchcliff Energy (TSE:BIR) traded up 3.06% on Thursday, reaching $9.44. The company had a trading volume of 943,084 shares. Birchcliff Energy has a 1-year low of $2.85 and a 1-year high of $9.89. The stock’s 50 day moving average is $8.96 and its 200-day moving average is $7.15. The stock’s market capitalization is $2.48 billion.
About Birchcliff Energy
Birchcliff Energy Ltd. is an intermediate oil and natural gas company. The Company is engaged in the exploration for and the development, production and acquisition of petroleum and natural gas reserves in Western Canada. Its operations are concentrated within core area, the Peace River Arch, which is centered over 90 kilometers northwest of Grande Prairie, Alberta, adjacent to the Alberta/British Columbia border.
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