ARC Resources (TSE:ARX) PT Raised to C$8.50
ARC Resources (TSE:ARX) had its price objective boosted by equities research analysts at CIBC from C$7.50 to C$8.50 in a note issued to investors on Friday, BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 49.38% from the stock’s current price.
ARX has been the subject of several other reports. BMO Capital Markets cut their price target on ARC Resources from C$8.00 to C$6.00 in a research note on Monday, June 29th. ATB Capital boosted their price target on ARC Resources from C$6.25 to C$6.50 in a research note on Friday, July 10th. Raymond James boosted their price target on ARC Resources from C$6.75 to C$7.50 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. National Bank Financial upped their target price on ARC Resources from C$7.00 to C$9.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Finally, Scotiabank upped their target price on ARC Resources from C$7.75 to C$8.00 in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. ARC Resources presently has a consensus rating of “Buy” and an average target price of C$7.86.
Shares of ARX stock opened at C$5.69 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.20 and a debt-to-equity ratio of 35.88. The stock has a market cap of $2.01 billion and a P/E ratio of -3.77. The stock has a 50 day simple moving average of C$4.91 and a 200 day simple moving average of C$5.50. ARC Resources has a 1 year low of C$2.42 and a 1 year high of C$8.39.
About ARC Resources
ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.
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