National Bank Financial Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy (TSE:TVE) had its price objective boosted by equities research analysts at National Bank Financial from C$10.00 to C$11.50 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price objective suggests a potential upside of 12.86% from the stock’s current price.

TVE has been the topic of several other reports. Desjardins raised their price objective on shares of Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a “buy” rating in a research report on Thursday. Raymond James Financial lowered Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Acumen Capital raised their price target on Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group boosted their price objective on Tamarack Valley Energy from C$8.50 to C$9.00 and gave the company a “hold” rating in a research report on Thursday. Finally, BMO Capital Markets upped their price objective on Tamarack Valley Energy from C$9.00 to C$11.00 in a research note on Friday, November 21st. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$10.11.

Tamarack Valley Energy Stock Up 4.6%

TSE TVE opened at C$10.19 on Thursday. Tamarack Valley Energy has a 52 week low of C$3.10 and a 52 week high of C$10.33. The company has a quick ratio of 0.80, a current ratio of 0.73 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’s 50-day moving average price is C$8.80 and its 200-day moving average price is C$7.23.

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

Key Stories Impacting 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.

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.