Canacol Energy Ltd. (TSE:CNE) had its price objective reduced by research analysts at CIBC from C$6.00 to C$5.50 in a research note issued on Monday. CIBC’s price target suggests a potential upside of 21.41% from the stock’s current price.

A number of other research firms have also issued reports on CNE. TD Securities reaffirmed a “buy” rating and issued a C$5.50 price target on shares of Canacol Energy in a research report on Tuesday, October 18th. Mackie raised their target price on Canacol Energy from C$5.50 to C$6.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. RBC Capital Markets set a C$4.60 target price on Canacol Energy and gave the stock a “sector perform” rating in a research report on Tuesday, September 6th. Royal Bank Of Canada initiated coverage on Canacol Energy in a research report on Tuesday, September 6th. They set a “sector perform” rating on the stock. Finally, Scotiabank reissued an “outperform” rating and set a C$5.50 target price on shares of Canacol Energy in a research report on Thursday, September 22nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Canacol Energy has a consensus rating of “Buy” and an average target price of C$5.41.

Analyst Recommendations for Canacol Energy (TSE:CNE)

Canacol Energy (TSE:CNE) opened at 4.53 on Monday. The firm’s market capitalization is $760.95 million. The firm has a 50-day moving average price of $4.36 and a 200-day moving average price of $4.21. Canacol Energy has a one year low of $1.97 and a one year high of $4.77.

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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