Royal Bank Of Canada Forecasts Strong Price Appreciation for Whitecap Resources (TSE:WCP) Stock

Whitecap Resources (TSE:WCPGet Free Report) had its target price increased by investment analysts at Royal Bank Of Canada from C$14.00 to C$16.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 19.31% from the stock’s current price.

A number of other brokerages have also recently issued reports on WCP. TD Securities lifted their price objective on shares of Whitecap Resources from C$13.00 to C$15.00 and gave the company a “buy” rating in a research note on Tuesday. Desjardins boosted their price target on Whitecap Resources from C$13.50 to C$14.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Raymond James Financial downgraded Whitecap Resources from a “strong-buy” rating to a “moderate buy” rating and upped their price objective for the stock from C$15.00 to C$16.00 in a research report on Tuesday. ATB Cormark Capital Markets lifted their target price on Whitecap Resources from C$13.00 to C$15.00 and gave the company a “moderate buy” rating in a research report on Tuesday. Finally, Scotiabank increased their target price on shares of Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Whitecap Resources presently has a consensus rating of “Buy” and a consensus target price of C$15.15.

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Whitecap Resources Price Performance

TSE WCP traded down C$0.18 during midday trading on Wednesday, hitting C$13.41. The company had a trading volume of 3,259,082 shares, compared to its average volume of 6,070,825. The firm has a 50-day moving average price of C$12.09 and a 200-day moving average price of C$11.24. The company has a market capitalization of C$16.28 billion, a PE ratio of 11.87, a P/E/G ratio of -0.33 and a beta of 0.69. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 21.58. Whitecap Resources has a twelve month low of C$6.87 and a twelve month high of C$13.98.

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About Whitecap Resources

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Whitecap Resources Inc is a leading Canadian energy company committed to delivering reliable returns to shareholders through the responsible development of oil and natural gas assets in the Western Canadian Sedimentary Basin. With a strong track record of profitable growth and a sustainable dividend, Whitecap delivers long-term value to investors, supported by investment-grade financial strength.

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