Paramount Resources (TSE:POU) Given New C$39.50 Price Target at CIBC

Paramount Resources (TSE:POU) had its price target boosted by analysts at CIBC from C$38.00 to C$39.50 in a report issued on Friday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 27.38% from the company’s current price.

POU has been the topic of several other research reports. Cibc World Mkts raised shares of Paramount Resources from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Cormark upgraded Paramount Resources to a “hold” rating in a report on Monday, September 23rd. Jefferies Financial Group reduced their price target on Paramount Resources from C$36.00 to C$29.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada lifted their price objective on Paramount Resources from C$34.00 to C$37.00 in a research report on Friday. Finally, Scotiabank increased their target price on Paramount Resources from C$43.00 to C$44.00 in a research report on Friday. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Paramount Resources presently has a consensus rating of “Moderate Buy” and an average price target of C$37.60.

Paramount Resources Trading Down 1.0 %

Shares of POU stock opened at C$31.01 on Friday. The company has a market capitalization of C$4.55 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.14 and a beta of 3.04. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average price of C$26.82 and a 200 day moving average price of C$29.23. Paramount Resources has a twelve month low of C$24.51 and a twelve month high of C$33.06.

Paramount Resources Company Profile

Paramount Resources Ltd. explores for and develops conventional and unconventional petroleum and natural gas reserves and resources in Canada. The company holds interests in the Karr and Wapiti Montney properties covering an area of 109,000 net acres located south of the city of Grande Prairie, Alberta; Kaybob North Duvernay development and natural gas producing properties covering an area of 124,000 net acres located in west-central Alberta; and Willesden Green Duvernay development in central Alberta and shale gas producing properties in the Horn River Basin in northeast British Columbia covering an area of 249,000 net acres.