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

Tamarack Valley Energy (TSE:TVE) had its price target raised by research analysts at Canaccord Genuity Group from C$8.50 to C$9.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential downside of 11.68% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada boosted their target price on shares of Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Acumen Capital lifted their target price on shares of Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a research report on Thursday. Desjardins upped their price objective on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the stock a “buy” rating in a report on Thursday. ATB Cormark Capital Markets boosted their price target on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a research note on Thursday. Finally, National Bank Financial increased their target price on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Tamarack Valley Energy currently has an average rating of “Moderate Buy” and a consensus target price of C$10.11.

Tamarack Valley Energy Trading Up 4.6%

Shares of Tamarack Valley Energy stock opened at C$10.19 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. The company has a market capitalization of C$4.96 billion, a P/E ratio of -145.57 and a beta of 0.87. The stock has a fifty day simple moving average of C$8.80 and a 200 day simple moving average of C$7.23. Tamarack Valley Energy has a 12-month low of C$3.10 and a 12-month high of C$10.33.

Tamarack Valley Energy (TSE:TVE) last announced its earnings results on Wednesday, February 25th. The company reported C$0.10 EPS for the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. The company had revenue of C$304.60 million during the quarter. On average, sell-side analysts anticipate that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Trending Headlines about Tamarack Valley Energy

Here are the key news stories impacting Tamarack Valley Energy this week:

• Positive Sentiment: National Bank Financial raised its price target to C$11.50 and assigned an “outperform” rating, implying roughly an 18% upside versus the C$9.74 reference price. Read More.
• Positive Sentiment: ATB Cormark Capital Markets raised its target to C$11.50 and reiterated an “outperform” view, signaling similar upside potential (~18%). Read More.
• Positive Sentiment: Desjardins increased its target to C$10.50 and rates TVE a “buy,” implying about a 7.8% upside from the C$9.74 reference. Read More.
• Positive Sentiment: Acumen Capital bumped its target sharply to C$10.50 (from C$7.50) and holds a “buy” rating, also implying roughly 7.8% upside versus C$9.74. Read More.
• Negative Sentiment: Canaccord Genuity raised its target to C$9.00 but kept a “hold” rating; that target sits below the C$9.74 reference price and represents ~7.6% downside, tempering the otherwise bullish analyst flow. Read More.

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.