TD Securities Reiterates “Buy” Rating for Canacol Energy Ltd. (CNE)
Canacol Energy Ltd. (TSE:CNE)‘s stock had its “buy” rating reiterated by equities researchers at TD Securities in a research note issued to investors on Friday. They currently have a C$5.50 price target on the oil and gas exploration company’s stock. TD Securities’ price objective would suggest a potential upside of 24.43% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. Scotiabank boosted their target price on shares of Canacol Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a research note on Friday. Canaccord Genuity boosted their target price on shares of Canacol Energy from C$5.25 to C$5.75 in a research note on Friday, July 29th. Mackie boosted their target price on shares of Canacol Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a research note on Friday, August 12th. RBC Capital Markets set a C$4.60 target price on shares of Canacol Energy and gave the company a “sector perform” rating in a research note on Tuesday, September 6th. Finally, Royal Bank Of Canada began coverage on shares of Canacol Energy in a research note on Tuesday, September 6th. They set a “sector perform” rating for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of C$5.37.
Shares of Canacol Energy (TSE:CNE) opened at 4.42 on Friday. Canacol Energy has a 1-year low of $1.97 and a 1-year high of $4.77. The company’s market cap is $742.47 million. The company’s 50-day moving average price is $4.35 and its 200 day moving average price is $4.20.
About Canacol Energy
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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