BMO Capital Markets Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy (TSE:TVE) had its target price boosted by equities research analysts at BMO Capital Markets from C$5.50 to C$6.00 in a research note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 36.67% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group raised their price objective on Tamarack Valley Energy from C$5.00 to C$5.75 in a report on Thursday, December 5th. National Bankshares raised their price target on Tamarack Valley Energy from C$6.75 to C$7.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. CIBC boosted their price objective on Tamarack Valley Energy from C$5.50 to C$5.75 and gave the company an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada increased their price objective on Tamarack Valley Energy from C$4.50 to C$5.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Acumen Capital lifted their target price on shares of Tamarack Valley Energy from C$5.50 to C$6.00 and gave the company a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$5.50.

Tamarack Valley Energy Trading Down 0.7 %

TSE TVE opened at C$4.39 on Friday. The firm’s fifty day moving average price is C$4.28 and its 200 day moving average price is C$3.98. Tamarack Valley Energy has a 12 month low of C$2.90 and a 12 month high of C$4.70. The company has a debt-to-equity ratio of 41.72, a current ratio of 0.90 and a quick ratio of 0.80. The company has a market capitalization of C$2.39 billion, a price-to-earnings ratio of 19.09 and a beta of 2.49.

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.