ATB Cormark Capital Markets Issues Positive Forecast for ACT Energy Technologies (TSE:ACX) Stock Price

ACT Energy Technologies (TSE:ACX) had its price target boosted by ATB Cormark Capital Markets from C$7.25 to C$8.00 in a research report released on Tuesday morning,BayStreet.CA reports. ATB Cormark Capital Markets currently has an outperform rating on the stock.

Separately, Raymond James Financial raised their target price on shares of ACT Energy Technologies from C$8.75 to C$10.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$9.17.

ACT Energy Technologies Price Performance

Shares of ACX opened at C$6.80 on Tuesday. The firm’s 50 day moving average is C$5.83 and its 200-day moving average is C$5.33. ACT Energy Technologies has a 12-month low of C$4.23 and a 12-month high of C$6.92. The stock has a market capitalization of C$227.53 million, a P/E ratio of 9.44 and a beta of 0.89.

Trending Headlines about ACT Energy Technologies

Here are the key news stories impacting ACT Energy Technologies this week:

• Positive Sentiment: Announced purchase of SB Directional Services’ U.S. directional drilling business for US$47 million to accelerate U.S. expansion and add drilling services capabilities; the deal is the primary corporate catalyst driving the move higher. MarketWatch: ACT Energy Technologies Agrees to Acquire Directional Drilling Business of SB Directional Services for $47M Yahoo Finance: ACT ENERGY TECHNOLOGIES ACCELERATES U.S. GROWTH WITH ACQUISITION OF SB DIRECTIONAL SERVICES
• Positive Sentiment: ATB Cormark raised its price target to C$8.00 and maintained an “outperform” rating, signaling dealer-level confidence and adding upward analyst momentum. BayStreet.CA: Analyst Ratings TickerReport: ATB Cormark target raise
• Positive Sentiment: Acumen Capital boosted its target to C$9.00 and reiterated a “buy” view, increasing implied upside and reinforcing buy-side interest. BayStreet.CA: Analyst Ratings
• Positive Sentiment: Raymond James raised its target to C$10.50 with an “outperform” rating, the most bullish of the recent updates and likely to attract institutional attention. BayStreet.CA: Analyst Ratings
• Neutral Sentiment: Market activity shows heavier-than-normal volume and the stock is trading above its 50- and 200-day moving averages; fundamentals still show a modest P/E and room for multiple re-rating if acquisition integration proves successful.

ACT Energy Technologies Company Profile

ACT Energy Technologies Ltd. is based in Calgary, Alberta, Canada. We operate in Canada and in the United States as Altitude Energy Partners, and in the U.S. under Discovery Downhole Services and Rime Downhole Technologies.