Canacol Energy Ltd. (TSE:CNE) had its price target hoisted by equities research analysts at Scotiabank from C$5.50 to C$5.75 in a research report issued on Friday. The firm currently has an “outperform” rating on the oil and gas exploration company’s stock. Scotiabank’s price objective would suggest a potential upside of 30.09% from the stock’s current price.

Several other brokerages have also commented on CNE. TD Securities restated a “buy” rating and issued a C$5.50 price objective on shares of Canacol Energy in a report on Tuesday, October 18th. Mackie upped their price objective on shares of Canacol Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a report on Friday, August 12th. RBC Capital Markets set a C$4.60 price objective on shares of Canacol Energy and gave the stock a “sector perform” rating in a report on Tuesday, September 6th. Royal Bank Of Canada began coverage on shares of Canacol Energy in a report on Tuesday, September 6th. They issued a “sector perform” rating on the stock. Finally, Canaccord Genuity upped their price objective on shares of Canacol Energy from C$5.25 to C$5.75 in a report on Friday, July 29th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of C$5.37.

Analyst Recommendations for Canacol Energy (TSE:CNE)

Canacol Energy (TSE:CNE) opened at 4.42 on Friday. The firm has a 50 day moving average of $4.35 and a 200-day moving average of $4.20. The stock’s market cap is $742.47 million. Canacol Energy has a 12-month low of $1.97 and a 12-month high of $4.77.

Canacol Energy Company Profile

Canacol Energy Ltd. is a Canada-based oil and gas exploration and production company. The Company is engaged in petroleum and natural gas exploration and development activities in Colombia and Ecuador. It owns approximately 0.5% interest in Oleoducto Bicentenario de Colombia (OBC), which owns a pipeline system that focuses on linking Llanos basin oil production to the Cano Limon oil pipeline system.

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