Tamarack Valley Energy (TSE:TVE) Price Target Raised to C$9.00

Tamarack Valley Energy (TSE:TVE) had its price objective hoisted by Canaccord Genuity Group from C$8.50 to C$9.00 in a report published on Thursday morning,BayStreet.CA reports. They currently have a hold rating on the stock.

A number of other equities research analysts also recently weighed in on TVE. Acumen Capital raised their price objective on Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a research report on Thursday. Canadian Imperial Bank of Commerce raised their price target on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Raymond James Financial downgraded shares of Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Royal Bank Of Canada increased their target price on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Finally, BMO Capital Markets raised their target price on shares of Tamarack Valley Energy from C$9.00 to C$11.00 in a research note on Friday, November 21st. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$10.11.

Tamarack Valley Energy Price Performance

TSE TVE opened at C$10.19 on Thursday. The company has a market cap of C$4.96 billion, a PE ratio of -145.57 and a beta of 0.87. The firm’s 50 day moving average price is C$8.80 and its 200-day moving average price is C$7.24. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. Tamarack Valley Energy has a 52-week low of C$3.10 and a 52-week high of C$10.33.

Tamarack Valley Energy (TSE:TVE) last issued its quarterly earnings data on Wednesday, February 25th. The company reported C$0.10 EPS for the quarter. The company had revenue of C$304.60 million during the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. Sell-side analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

Key Headlines Impacting Tamarack Valley Energy

Here are the key news stories impacting Tamarack Valley Energy this week:

• Positive Sentiment: National Bank Financial raised its price target to C$11.50 and assigned an “outperform” rating, implying roughly an 18% upside versus the C$9.74 reference price. Read More.
• Positive Sentiment: ATB Cormark Capital Markets raised its target to C$11.50 and reiterated an “outperform” view, signaling similar upside potential (~18%). Read More.
• Positive Sentiment: Desjardins increased its target to C$10.50 and rates TVE a “buy,” implying about a 7.8% upside from the C$9.74 reference. Read More.
• Positive Sentiment: Acumen Capital bumped its target sharply to C$10.50 (from C$7.50) and holds a “buy” rating, also implying roughly 7.8% upside versus C$9.74. Read More.
• Negative Sentiment: Canaccord Genuity raised its target to C$9.00 but kept a “hold” rating; that target sits below the C$9.74 reference price and represents ~7.6% downside, tempering the otherwise bullish analyst flow. Read More.

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.