Birchcliff Energy Ltd. (BIR) Rating Reiterated by Scotiabank
Birchcliff Energy Ltd. (TSE:BIR)‘s stock had its “focus stock” rating reiterated by investment analysts at Scotiabank in a research note issued to investors on Thursday. They currently have a C$12.00 target price on the stock. Scotiabank’s price objective would suggest a potential upside of 45.10% from the company’s current price.
A number of other equities analysts also recently issued reports on BIR. Royal Bank Of Canada decreased their price objective on Birchcliff Energy from C$11.00 to C$9.00 in a report on Friday, August 12th. CIBC increased their price objective on Birchcliff Energy from C$7.00 to C$10.00 in a report on Thursday, July 14th. Canaccord Genuity increased their price objective on Birchcliff Energy from C$11.50 to C$12.00 in a report on Monday, July 25th. TD Securities increased their price objective on Birchcliff Energy from C$12.50 to C$13.50 and gave the stock a “buy” rating in a report on Thursday. Finally, RBC Capital Markets increased their price objective on Birchcliff Energy from C$11.00 to C$12.00 in a report on Thursday, October 13th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Birchcliff Energy has an average rating of “Buy” and a consensus target price of C$10.35.
Birchcliff Energy (TSE:BIR) opened at 8.27 on Thursday. The company has a 50 day moving average of $9.00 and a 200-day moving average of $7.80. Birchcliff Energy has a one year low of $2.85 and a one year high of $9.97. The stock’s market capitalization is $1.90 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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