This morning's G&M Equity analysts at National Bank made a series of rating changes and raised their target prices for Canadian energy stocks on Thursday.
Dan Payne upgraded Surge Energy Inc. (
) to “outperform” from “sector perform” with a $14.50 target, up from $10 and above the $12.57 average.
He also raised Baytex Energy Corp. (
) to “outperform” from “sector perform” and bumped his target to $8.75 from $6.50. The average is $7.68.
The firm’s target changes included:
- Canadian Natural Resources Ltd. (
, “outperform”) to $100 from $90. Average: $84.24. - Cenovus Energy Inc. (
, “outperform”) to $35 from $28. Average: $24.76. - Imperial Oil Ltd. (
, “outperform”) to $78 from $70. Average: $62. - Suncor Energy Inc. (
, “sector perform”) to $54 from $52. Average: $46.81. -