Canaccord Genuity cut shares of Traverse Energy Ltd. (CVE:TVL) from a speculative buy rating to a hold rating in a report published on Wednesday, reports. Canaccord Genuity currently has C$0.45 target price on the stock, down from their prior target price of C$0.65.

About Traverse Energy

Traverse Energy Ltd. is an oil and gas exploration, development and production company. The Company conducts its operations in the province of Alberta. The Company’s production consists of natural gas, oil and natural gas liquids. Its principal oil and natural gas properties are located in the areas of Coyote, Michichi and Turin in the province of Alberta.

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