TSX:JOY - Post Discussion
Post by
hawkowl1 on Jun 28, 2021 8:09am
Journey in Globe and mail saturday. New target $1.90
Journey Energy Inc (C-JOY) - In the News
Globe says Fitzmartyn raises Journey Energy to "buy"
2021-06-28 08:01 ET - In the News
Shares issued 44,001,158
JOY Close 2021-06-25 C$ 1.45
The Globe and Mail reports in its Saturday, June 26, edition that Stifel analyst Robert Fitzmartyn, citing an "improved financial outlook," elevated his rating for Journey Energy ($1.45) to "buy" from "speculative buy." The Globe's David Leeder writes in the Eye On Equities column that on Thursday, the Calgary-based company announced a deal to purchase a private company focused primarily in the Nordegg and Grande Cache areas of Alberta. Mr. Fitzmartyn says in a note: "We are pegging the net cost of the transaction at $6.5-million. The description of the E&P is consistent with that of Briko Energy Corp." Accordingly, Mr. Fitzmartyn raised his share target to $1.90 from $1.35. Analysts on average target the shares at $1.14. The Globe reported on March 16, 2018, that Canaccord Genuity analyst Sam Roach cut his rating for Journey Energy to "hold" from "speculative buy" and price target to $1.80 from $2.50. It was then worth $1.51. The Globe reported on March 12, 2020, that Acumen Capital analyst Trevor Reynolds lowered Journey Energy to "hold" from "speculative buy" and share target to $1 from $2.25. The shares could then be had for 42 cents
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