Topaz Energy (TSE:TPZ) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Topaz Energy (TSE:TPZ) had its target price hoisted by equities researchers at Canadian Imperial Bank of Commerce from C$29.00 to C$33.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Canadian Imperial Bank of Commerce’s target price points to a potential upside of 8.80% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Scotiabank raised Topaz Energy to a “strong-buy” rating in a report on Friday, November 28th. Raymond James Financial raised their price target on Topaz Energy from C$32.00 to C$34.00 in a research note on Tuesday, December 9th. National Bank Financial set a C$33.50 price target on Topaz Energy and gave the stock an “outperform” rating in a research report on Friday, January 9th. ATB Cormark Capital Markets increased their price target on shares of Topaz Energy from C$31.00 to C$33.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Jefferies Financial Group reduced their price target on Topaz Energy from C$31.00 to C$30.00 in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. According to MarketBeat.com, Topaz Energy has a consensus rating of “Buy” and a consensus target price of C$32.81.

Topaz Energy Stock Up 0.7%

Shares of TSE:TPZ traded up C$0.20 during trading on Wednesday, reaching C$30.79. The stock had a trading volume of 180,258 shares, compared to its average volume of 441,714. The firm’s 50-day simple moving average is C$28.02 and its 200 day simple moving average is C$26.70. The company has a market capitalization of C$4.74 billion, a P/E ratio of 83.22 and a beta of 0.27. The company has a current ratio of 1.89, a quick ratio of 7.17 and a debt-to-equity ratio of 36.45. Topaz Energy has a one year low of C$21.00 and a one year high of C$31.16.

About Topaz Energy

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices. It generates revenue from the Royalty Assets, which generate the company’s Royalty Production Revenue; and the Infrastructure Assets, which generate the company’s Processing Revenue and Other Income.