TD Securities Upgrades Whitecap Resources Inc. (WCP) to “Buy”
Whitecap Resources Inc. (TSE:WCP) was upgraded by stock analysts at TD Securities to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a C$14.00 price target on the stock. TD Securities’ price target suggests a potential upside of 24.22% from the stock’s previous close.
Several other equities analysts also recently issued reports on WCP. Barclays PLC lifted their price target on shares of Whitecap Resources from C$11.00 to C$12.00 in a report on Friday, July 22nd. Canaccord Genuity assumed coverage on shares of Whitecap Resources in a report on Wednesday, July 27th. They set a “buy” rating and a C$12.50 price target for the company. National Bank Financial lowered their price objective on shares of Whitecap Resources from C$15.00 to C$13.50 in a research report on Wednesday, August 3rd. Scotiabank restated an “outperform” rating and issued a C$14.50 price objective on shares of Whitecap Resources in a research report on Friday, August 5th. Finally, Desjardins set a C$11.50 price objective on shares of Whitecap Resources and gave the company a “hold” rating in a research report on Saturday, August 6th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$13.35.
Shares of Whitecap Resources (TSE:WCP) opened at 11.27 on Tuesday. The company has a 50 day moving average of $11.12 and a 200 day moving average of $10.27. Whitecap Resources has a 12 month low of $5.60 and a 12 month high of $12.04. The stock’s market cap is $4.15 billion.
About Whitecap Resources
Whitecap Resources Inc is engaged in the acquisition, development, optimization and production of crude oil and natural gas in western Canada. The Company is focused on providing sustainable monthly dividends and per share growth through a combination of accretive oil-based acquisitions and organic growth on existing and acquired assets.
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