Tamarack-Valley-Energy (TVE) Given New C$5.50 Price Target at Royal Bank of Canada
Tamarack-Valley-Energy (CVE:TVE) had its price objective raised by analysts at Royal Bank of Canada from C$5.00 to C$5.50 in a report issued on Monday. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential downside of 78.03% from the company’s current price.
A number of other brokerages have also weighed in on TVE. BMO Capital Markets raised their price objective on Tamarack-Valley-Energy from C$5.00 to C$6.00 in a report on Friday. Desjardins raised their price objective on Tamarack-Valley-Energy from C$6.00 to C$6.50 in a report on Friday. Eight Capital raised their price objective on Tamarack-Valley-Energy from C$6.50 to C$7.00 in a report on Friday. CIBC raised their price objective on Tamarack-Valley-Energy from C$6.00 to C$6.25 in a report on Friday, July 20th. Finally, Raymond James raised their price objective on Tamarack-Valley-Energy from C$5.25 to C$5.75 in a report on Thursday, July 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Tamarack-Valley-Energy has a consensus rating of “Buy” and an average target price of C$5.67.
TVE stock traded up C$0.03 during midday trading on Monday, reaching C$25.03. The stock had a trading volume of 300 shares, compared to its average volume of 9,352. Tamarack-Valley-Energy has a 52-week low of C$24.80 and a 52-week high of C$26.98.
Tamarack Valley Energy Ltd. (Tamarack) is a Canada-based oil and natural gas company. The Company has working interests in petroleum and natural gas properties in the Alder Flats area. Tamarack has interests in over 220 sections of land in the Wilson Creek and Alder Flats area of Alberta. The Company operates a range of oil batteries, which have capacities of approximately 3,800 barrels per day (bbl/d) capacity and approximately 1,000 bbl/d; an approximately 30 million cubic feet per day (mmcf/d) gas plant, and an approximately six mmcf/d gas plant.
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