Scotiabank Reiterates Outperform Rating for Paramount Resources, Ltd. (POU)
Paramount Resources, Ltd. (TSE:POU)‘s stock had its “outperform” rating reiterated by stock analysts at Scotiabank in a report released on Thursday. They currently have a C$18.00 price objective on the stock. Scotiabank’s target price points to a potential upside of 22.37% from the company’s current price.
Several other brokerages also recently weighed in on POU. CIBC raised their price target on shares of Paramount Resources from C$13.00 to C$15.50 in a research report on Wednesday, October 19th. Royal Bank Of Canada raised their target price on shares of Paramount Resources from C$16.00 to C$18.00 in a report on Thursday, October 13th. RBC Capital Markets raised their target price on shares of Paramount Resources from C$16.00 to C$18.00 in a report on Thursday, October 13th. Barclays PLC raised their target price on shares of Paramount Resources from C$16.00 to C$17.00 in a report on Tuesday, October 11th. Finally, TD Securities dropped their target price on shares of Paramount Resources from C$16.00 to C$15.50 and set a “hold” rating on the stock in a report on Tuesday, September 27th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of C$14.83.
Paramount Resources (TSE:POU) opened at 14.71 on Thursday. The stock has a 50 day moving average of $15.53 and a 200 day moving average of $12.24. The company has a market cap of $1.56 billion and a PE ratio of 4.42. Paramount Resources has a 12-month low of $2.86 and a 12-month high of $17.64.
About Paramount Resources
Paramount Resources Ltd. is engaged in exploring and developing conventional petroleum and natural gas prospects, which pursues non-conventional exploration and pre-development projects and holds a portfolio of investments in other entities. The Company’s principal properties are primarily located in Alberta, British Columbia and Northwest Territories.
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