Canacol Energy Ltd. (TSE:CNE) had its target price increased by equities researchers at Canaccord Genuity from C$5.75 to C$6.00 in a research note issued to investors on Tuesday. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Canaccord Genuity’s target price points to a potential upside of 35.14% from the company’s previous close.

Several other research analysts also recently commented on CNE. CIBC decreased their target price on shares of Canacol Energy from C$6.00 to C$5.50 in a research note on Monday. TD Securities reaffirmed a “buy” rating and issued a C$5.50 target price on shares of Canacol Energy in a research note on Friday, November 11th. Scotiabank lifted their price target on shares of Canacol Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a report on Friday, November 11th. Mackie lifted their price target on shares of Canacol Energy from C$6.00 to C$6.50 and gave the company a “buy” rating in a report on Wednesday, August 24th. Finally, Royal Bank Of Canada initiated coverage on shares of Canacol Energy in a report on Tuesday, September 6th. They issued a “sector perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of C$5.36.

Analyst Recommendations for Canacol Energy (TSE:CNE)

Shares of Canacol Energy (TSE:CNE) opened at 4.44 on Tuesday. The stock has a 50 day moving average of $4.37 and a 200 day moving average of $4.21. The stock’s market cap is $745.83 million. Canacol Energy has a one year low of $1.97 and a one year 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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