Canaccord Genuity Boosts Peyto Exploration & Development (OTCMKTS:PEYUF) Price Target to C$10.50

Peyto Exploration & Development (OTCMKTS:PEYUF) had its target price upped by equities researchers at Canaccord Genuity from C$9.50 to C$10.50 in a report issued on Wednesday, The Fly reports. The firm currently has a “buy” rating on the stock.

PEYUF has been the topic of several other reports. Stifel Nicolaus increased their price target on Peyto Exploration & Development from C$13.25 to C$15.75 and gave the stock a “buy” rating in a research report on Thursday, August 12th. Scotiabank upped their target price on Peyto Exploration & Development from C$10.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Thursday, July 15th. TD Securities upgraded Peyto Exploration & Development from a “hold” rating to a “buy” rating in a research note on Tuesday, June 29th. BMO Capital Markets upped their target price on Peyto Exploration & Development from C$7.50 to C$8.00 and gave the stock a “market perform” rating in a research note on Thursday, August 12th. Finally, CIBC lowered their target price on Peyto Exploration & Development from C$8.25 to C$8.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 17th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $8.97.

PEYUF traded up $0.14 during trading on Wednesday, reaching $6.50. 41,464 shares of the company’s stock were exchanged, compared to its average volume of 77,449. Peyto Exploration & Development has a 1 year low of $1.79 and a 1 year high of $7.24. The company’s fifty day simple moving average is $5.62 and its 200-day simple moving average is $5.12.

About Peyto Exploration & Development

Peyto Exploration & Development Corp. engages in the exploration, development, and production of oil and natural gas. Its operations include deep basin, field activity, marketing, and reserves. The company was founded by Richard F. Braund and Donald T. Gray in 1998 and is headquartered in Calgary, Canada.

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