Scotiabank Raises Canacol Energy Ltd. (CNE) Price Target to C$6.25
Canacol Energy Ltd. (TSE:CNE) had its price objective raised by Scotiabank from C$5.75 to C$6.25 in a research report sent to investors on Friday morning. They currently have an outperform rating on the oil and gas exploration company’s stock.
Several other research analysts also recently commented on CNE. CIBC reduced their target price on Canacol Energy from C$6.00 to C$5.50 in a report on Monday, November 14th. Canaccord Genuity boosted their target price on Canacol Energy from C$5.75 to C$6.00 and gave the stock a buy rating in a report on Tuesday, November 15th. TD Securities reissued a buy rating and issued a C$5.50 target price on shares of Canacol Energy in a report on Friday, November 11th. Royal Bank Of Canada boosted their target price on Canacol Energy from C$4.60 to C$5.00 and gave the stock a sector perform rating in a report on Wednesday, November 16th. Finally, Mackie boosted their target price on Canacol Energy from C$6.00 to C$6.50 and gave the stock a buy rating in a report on Wednesday, August 24th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of C$5.48.
Canacol Energy (TSE:CNE) opened at 4.32 on Friday. The firm’s market capitalization is $750.38 million. The company has a 50 day moving average price of $4.42 and a 200-day moving average price of $4.26. Canacol Energy has a one year low of $1.97 and a one year high of $4.79.
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Canacol Energy Company Profile
Canacol Energy Ltd. is a Canada-based oil and gas exploration and production company. The Company is engaged in petroleum and natural gas exploration and development activities in Colombia and Ecuador. It owns approximately 0.5% interest in Oleoducto Bicentenario de Colombia (OBC), which owns a pipeline system that focuses on linking Llanos basin oil production to the Cano Limon oil pipeline system.
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