Canadian Imperial Bank of Commerce Increases Tamarack Valley Energy (TSE:TVE) Price Target to C$15.25

Tamarack Valley Energy (TSE:TVE) had its price target hoisted by Canadian Imperial Bank of Commerce from C$14.25 to C$15.25 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s target price would suggest a potential upside of 21.71% from the stock’s previous close.

A number of other analysts also recently commented on TVE. ATB Cormark Capital Markets boosted their price objective on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Roth Mkm set a C$15.00 price objective on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a report on Tuesday, May 19th. Acumen Capital upped their price target on shares of Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Desjardins upped their price target on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Canaccord Genuity Group raised shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and upped their price target for the company from C$12.00 to C$15.00 in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Tamarack Valley Energy has a consensus rating of “Buy” and a consensus target price of C$12.73.

Tamarack Valley Energy Price Performance

TVE stock traded down C$0.37 during trading on Friday, reaching C$12.53. 1,091,828 shares of the company were exchanged, compared to its average volume of 2,187,481. The company has a market cap of C$5.99 billion, a P/E ratio of -69.61 and a beta of 0.46. Tamarack Valley Energy has a 52-week low of C$4.35 and a 52-week high of C$13.97. The stock’s 50 day moving average price is C$11.86 and its 200 day moving average price is C$9.75. The company has a debt-to-equity ratio of 37.62, a quick ratio of 0.80 and a current ratio of 0.69.

Tamarack Valley Energy (TSE:TVE) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$0.20 EPS for the quarter. The firm had revenue of C$375.55 million for the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. As a group, analysts predict that Tamarack Valley Energy will post 0.1386527 earnings per share for the current fiscal year.

Tamarack Valley Energy Company Profile

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.