Acumen Capital Forecasts Strong Price Appreciation for Tamarack Valley Energy (TSE:TVE) Stock

Tamarack Valley Energy (TSE:TVE) had its price objective lifted by Acumen Capital from C$7.50 to C$10.50 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Acumen Capital’s price target indicates a potential upside of 3.04% from the company’s current price.

A number of other equities analysts also recently commented on TVE. Raymond James Financial downgraded shares of Tamarack Valley Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. National Bank Financial increased their price target on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. ATB Cormark Capital Markets boosted their price objective on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the stock an “outperform” rating in a research note on Thursday. Canadian Imperial Bank of Commerce upped their target price on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada raised their target price on Tamarack Valley Energy from C$8.00 to C$9.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$10.11.

Tamarack Valley Energy Stock Up 4.6%

Shares of TSE:TVE opened at C$10.19 on Thursday. The company has a debt-to-equity ratio of 34.61, a quick ratio of 0.80 and a current ratio of 0.73. Tamarack Valley Energy has a 1 year low of C$3.10 and a 1 year high of C$10.33. The stock has a market capitalization of C$4.96 billion, a P/E ratio of -59.94 and a beta of 0.87. The stock has a 50-day simple moving average of C$8.80 and a 200-day simple moving average of C$7.23.

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

Trending Headlines about 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.