Raymond James Financial Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy (TSE:TVE) had its price target raised by Raymond James Financial from C$6.50 to C$7.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial’s price objective points to a potential upside of 12.36% from the stock’s previous close.

A number of other research analysts also recently commented on TVE. CIBC lifted their price objective on shares of Tamarack Valley Energy from C$6.25 to C$7.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. BMO Capital Markets lifted their price objective on shares of Tamarack Valley Energy from C$8.00 to C$9.00 in a research report on Thursday. ATB Capital lifted their price objective on shares of Tamarack Valley Energy from C$6.00 to C$6.25 and gave the company an “outperform” rating in a research report on Thursday, July 31st. National Bankshares lifted their price objective on shares of Tamarack Valley Energy from C$7.25 to C$7.50 and gave the company an “outperform” rating in a research report on Friday, September 19th. Finally, Canaccord Genuity Group downgraded shares of Tamarack Valley Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Tamarack Valley Energy currently has an average rating of “Moderate Buy” and a consensus price target of C$7.36.

Tamarack Valley Energy Stock Performance

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

About Tamarack Valley Energy

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.