BMO Capital Markets Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy (TSE:TVE) had its price objective lifted by equities research analysts at BMO Capital Markets from C$8.00 to C$9.00 in a research note issued on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 44.46% from the company’s previous close.

Other research analysts have also issued research reports about the stock. CIBC increased their price target on shares of Tamarack Valley Energy from C$6.25 to C$7.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Raymond James Financial increased their price target on shares of Tamarack Valley Energy from C$6.00 to C$6.50 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Desjardins raised shares of Tamarack Valley Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 16th. Canaccord Genuity Group lowered shares of Tamarack Valley Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Finally, ATB Capital upped their price objective on shares of Tamarack Valley Energy from C$6.00 to C$6.25 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$7.36.

Tamarack Valley Energy Stock Performance

TSE:TVE opened at C$6.23 on Thursday. Tamarack Valley Energy has a 12-month low of C$3.10 and a 12-month high of C$6.45. The company has a quick ratio of 0.80, a current ratio of 0.73 and a debt-to-equity ratio of 34.61. The firm has a market capitalization of C$3.10 billion, a PE ratio of 12.98 and a beta of 1.10. The firm has a 50-day moving average price of C$5.91 and a 200 day moving average price of C$5.10.

Tamarack Valley Energy Company Profile

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.