Tamarack Valley Energy (TSE:TVE) Stock Price Expected to Rise, CIBC Analyst Says

Tamarack Valley Energy (TSE:TVE) had its price target boosted by analysts at CIBC from C$7.25 to C$8.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price objective suggests a potential upside of 28.41% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. National Bankshares upped their price target on shares of Tamarack Valley Energy from C$7.50 to C$8.00 and gave the company an “outperform” rating in a research report on Thursday. Desjardins raised shares of Tamarack Valley Energy from a “hold” rating to a “moderate buy” rating in a 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 report on Wednesday, October 22nd. Royal Bank Of Canada increased their target price on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Acumen Capital increased their target price on shares of Tamarack Valley Energy from C$7.25 to C$7.50 and gave the stock a “buy” rating in a report on Thursday. Seven 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 a consensus rating of “Moderate Buy” and a consensus target price of C$7.36.

Tamarack Valley Energy Price Performance

TSE TVE opened at C$6.23 on Thursday. Tamarack Valley Energy has a 52 week low of C$3.10 and a 52 week high of C$6.45. The firm has a market capitalization of C$3.10 billion, a P/E ratio of 12.98 and a beta of 1.10. 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 company has a 50-day moving average price of C$5.91 and a 200-day moving average price of C$5.10.

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.