Whitecap Resources Inc T.WCP

CIBC Lower Targets

[retiredcf]

Energy analysts at CIBC World Markets made a series of target price reductions to stocks in their coverage universe on Tuesday. Their changes included:

• Arc Resources Ltd. (ARX-T, “outperformer”) to $26 from $28. The average on the Street is $27.14.
• Baytex Energy Corp. (BTE-T, “neutral”) to $6 from $8. Average: $7.68.
• Birchliff Energy Ltd. (BIR-T, “neutral”) to $6.50 from $8. Average: $8.71.
• Cardinal Energy Ltd. (CJ-T, “neutral”) to $8 from $9. Average: $8.83.
• Cenovus Energy Inc. (CVE-T, “outperformer”) to $30 from $42. Average: $30.91.
• Crescent Point Energy Corp. (CPG-T, “outperformer”) to $14 from $15. Average: $13.81.
• Enerflex Ltd. (EFX-T, “neutral”) to $7.25 from $8.50. Average: $10.19.
• Enerplus Corp. (ERF-N/ERF-T, “outperformer”) to US$19 from US$23. Average: US$20.80.
• Ensign Energy Services Inc. (ESI-T, “neutral”) to $3.25 from $4. Average: $3.89.
• Freehold Royalties Ltd. (FRU-T, “neutral”) to $16 from $16.75. Average: $18.25.
• Kelt Exploration Ltd. (KEL-T, “outperformer”) to $8 from $9. Average: $8.77.
• Lucero Energy Corp. (LOU-X, “neutral”) to 70 cents from 80 cents. Average: 89 cents.
• Lundin Mining Corp. (LUN-T, “neutral”) to $12 from $13. Average: $11.96.
• MEG Energy Corp. (MEG-T, “neutral”) to $26 from $27. Average: $30.35.
• Paramount Resources Ltd. (POU-T, “neutral”) to $32.50 from $40. Average: $38.28.
• PrairieSky Royalty Ltd. (PSK-T, “outperformer”) to $27.50 from $29.50. Average: $26.44.
• Pipestone Energy Corp. (SCR-T, “outperformer”) to $35 from $40. Average: $33.64.
• Suncor Energy Inc. (SU-T, “outperformer”) to $58 from $61. Average: $51.53.
• Tamarack Valley Energy Ltd. (TVE-T, “outperformer”) to $4.50 from $5.25. Average: $5.63.
• Topaz Energy Corp. (TPZ-T, “outperformer”) to $24 from $26.50. Average: $27.27.
• Tourmaline Oil Corp. (TOU-T, “outperformer”) to $72.50 from $82.50. Average: $81.16.
• Vermilion Energy Inc. (VET-T, “neutral”) to $22 from $26. Average: $24.54.
• Whitecap Resources Inc. (WCP-T, “outperformer”) to $14 from $15. Average: $13.57.

Conversely, analyst Jamie Kubik raised his target Secure Energy Services Inc. (SES-T) to $10.50 from $9.50. with a “neutral” recommendation. The average is $11.