Trican Well Service Ltd. (TSE:TCW) was downgraded by stock analysts at Raymond James Financial Inc. from a “strong-buy” rating to a “market perform” rating in a note issued to investors on Friday. They currently have a C$3.60 target price on the stock, up from their prior target price of C$3.30. Raymond James Financial Inc.’s price objective suggests a potential upside of 14.29% from the stock’s current price.
Several other equities analysts have also recently issued reports on the company. Evercore ISI boosted their price target on Trican Well Service from C$2.00 to C$3.00 in a research report on Wednesday, June 29th. Royal Bank Of Canada raised Trican Well Service from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$2.00 to C$5.00 in a report on Wednesday, June 22nd. Scotiabank reaffirmed an “outperform” rating and issued a C$3.50 price objective on shares of Trican Well Service in a report on Monday, August 15th. Pi Financial lifted their price objective on Trican Well Service from C$2.20 to C$3.30 in a report on Monday, October 3rd. Finally, TD Securities lowered their price objective on Trican Well Service from C$3.00 to C$2.75 and set a “speculative buy” rating on the stock in a report on Monday, August 15th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of C$2.79.
Trican Well Service (TSE:TCW) opened at 3.15 on Friday. The firm’s 50 day moving average price is $2.41 and its 200-day moving average price is $2.00. Trican Well Service has a one year low of $0.34 and a one year high of $3.37. The firm’s market cap is $608.07 million.
About Trican Well Service
Trican Well Service Ltd. is a Canada-based oilfield services company. The Company provides an array of specialized products, equipment, services and technology for use in the drilling, completion, stimulation and reworking of oil and gas wells in Canada, the United States, Kazakhstan, Russia and Norway, as well as limited operations in Saudi Arabia and Colombia.
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