CIBC Raise Targets Ahead of earnings season in the energy sector, CIBC World Markets analyst Jamie Kubik and colleagues Dennis Fong and Christopher Thompson made these target adjustments:
- Advantage Energy Ltd. ( “neutral”) to $11 from $10.50. The average is $13.
- Arc Resources Ltd. ( “outperformer”) to $30 from $26. Average: $28.13.
- Baytex Energy Corp. (“neutral”) to $6.50 from $6. Average: $6.27.
- Canadian Natural Resources Ltd. (“outperformer”) to $115 from $105. Average: $109.57.
- Cardinal Energy Ltd. ( “neutral”) to $8.50 from $8. Average: $8.
- Cenovus Energy Inc. (“outperformer”) to $35 from $31. Average: $32.92.
- Crescent Point Energy Corp. (“outperformer”) to $15 from $14. Average: $13.89.
- Enerflex Ltd. (“neutral”) to $9 from $8. Average: $11.
- Ensign Energy Services Inc. (“neutral”) to $3.75 from $3.25. Average: $3.71.
- Imperial Oil Ltd. ( “neutral”) to $105 from $90. Average: $95.08.
- Kelt Exploration Ltd. (“outperformer”) to $8.50 from $8. Average: $8.43.
- Lucero Energy Corp. ( “neutral”) to 75 cents from 70 cents. Average: 83 cents.
- Meg Energy Corp. (“neutral”) to $34 from $30. Average: $34.23.
- NuVista Energy Ltd. ( “outperformer”) to $16.50 from $15.50. Average: $15.60.
- Paramount Resources Ltd. ( “neutral”) to $35 from $30. Average: $35.95.
- Precision Drilling Corp. (“outperformer”) to $130 from $110. Average: $127.49.
- Secure Energy Services Inc. (“neutral”) to $12 from $11. Average: $12.92.
- Spartan Delta Corp. (“neutral”) to $4 from $3.75. Average: $4.83.
- Strathcona Resources Ltd. (“outperformer”) to $40 from $35. Average: $34.50.
- Suncor Energy Inc. (“outperformer”) to $65 from $60. Average: $54.53.
- Tamarack Valley Energy Ltd. ( “outperformer”) to $5.25 from $4.50. Average: $4.92.
- Topaz Energy Corp. (“outperformer”) to $26 from $24. Average: $27.18.
- Tourmaline Oil Corp. (“outperformer”) to $77.50 from $72.50. Average: $76.63.
- Whitecap Resources Inc. (“outperformer”) to $15 from $14. Average: $12.83.