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

Tamarack Valley Energy (TSE:TVE) had its target price increased by equities researchers at Canaccord Genuity Group from C$5.00 to C$5.75 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s price target would suggest a potential upside of 29.50% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets upgraded shares of Tamarack Valley Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, October 4th. CIBC increased their price objective on shares of Tamarack Valley Energy from C$5.50 to C$5.75 and gave the stock an “outperform” rating in a research note on Friday, November 1st. National Bankshares increased their price objective on shares of 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. Raymond James upgraded shares of Tamarack Valley Energy to a “hold” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada increased their price objective on shares of Tamarack Valley Energy from C$4.50 to C$5.00 and gave the stock an “outperform” rating in a research note 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$5.45.

Tamarack Valley Energy Price Performance

Shares of TSE TVE opened at C$4.44 on Thursday. The firm has a market cap of C$2.42 billion, a PE ratio of 19.30 and a beta of 2.49. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 41.72. Tamarack Valley Energy has a 1-year low of C$2.76 and a 1-year high of C$4.70. The company has a fifty day moving average price of C$4.22 and a 200 day moving average price of C$3.95.

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.