Birchcliff Energy Ltd T.BIR

National Bank PT Upgrade to $6.50

[PlutusofCrete]

Birchcliff Energy (TSE:BIR) had its price target boosted by equities researchers at National Bankshares from C$4.25 to C$6.50 in a report issued on Thursday, BayStreet.CA reports. National Bankshares’ target price points to a potential upside of 61.69% from the company’s current price.

[barneyj44]

Ask and yee shall receive. I was wondering when our price target was going to be raised, especially being that we're unhedged.

[GuidoSan1]

So National Bank rating, meh for me, where's, BMO, RBC, Raymond James, CIBC upgrades? Get the rest of these yokels on board with their upgrades and then we're cooking for the next leg up.  In the meantime rooting for the gap to fill and a nice win of 15% on core rebuy, commodity down, oil down, lots of room yet on the short term charts, winning while losing gotta love it if it

[NewfNewf]

The last target i saw from RBC was a Price Target of CAD 5.00 Investment summary In our view, Birchcliff should outperform its peer group. Highlights of the story include: • Birchcliff’s Peace River Arch Montney land position is substantial, with considerable undeveloped land that the company considers low-risk in nature. Birchcliff has identified more than 4,500 horizontal drilling locations. •

[shenty46]

And this upgrade is from David Payne one of the most trusted analyst.

[RayDonovan78]

I am a long holder of BIR but rarely are analysts price targets ever fulfilled, most have an agenda. Would be interesting to find out how much National is holding. 

[barneyj44]

Agree always take Analysts price targets with skepticism. I can see $5.50 and thats good enough for me from my entry point.

[GuidoSan1]

Took some time but I found the low possibility basis for the National 6.50 target. On a 20 year chart off all time high ignoring a double and triple top thereafter to connect 13.94, 9.22 and 6.50 by say 6 months from now. That was the fall/winter NG futures ran all the way to $16 Jan2001 before falling all the way to $2. So to achieve a $6.50 target NG would have to run to roughly $7 futures not

[GuidoSan1]

Just sold my remaining core BIR at the 4.19 top (30K), something does not add up on this quick rise turn around on low volume. So I will look to a complete reset now target the gap 3.75ish and start over, may comment ongoing and will post if back in the game as a shareholder, GLTA

[PlutusofCrete]

Thanks for the contributions GuidoSan! Good luck and hope to see you back.  Let's see what Price Target increases come our way after Q2 results. With all the debt reduction going on in the industry how will the  banks  make money off us going forward - would it be through equity price appreciation through investments in their trading arms? BIR already reduced its borrowing

[RayDonovan78]

I will be out in the $4.50-$4.60 range should that come in the near future, I personally think this O&G rally will fizzle out in the near future. And just the fact that this was BOW TIE's top pick in the past worries me.

[barneyj44]

As long as Nat gas and oil stay strong I'll hold, being unhedged as it's advantages...

[PlutusofCrete]

Jeff Tonken was on BNN back in Oct 2019 when the BIR share price was  just around $2 - he referred to the stock as being murdered.  In June 2020 he's back on BNN announces that the stock is trading just over $4 - which some have reffered to as the first inning. Some may think this is a stock price recovery but its not...it is just the beginning - shale oil is not going to come

[PlutusofCrete]

Sorry meant June 2021 not June 2020.