After the closing of a $175-million bought deal equity offering and a 16-per-cent increase to 2021 EBITDA guidance, RBC Dominion Securities analyst Luke Davis upgraded Topaz Energy Corp. (
to “outperform” from “sector perform” with a $19 target, up from $17.50. The average is $18.65.
Elsewhere, iA Capital Markets analyst Elias Foscolos raised his target by $1 to $20 with a “buy” rating, pointing to “numerous tailwinds, including low debt, high margins, and strategic positioning ingrowth production areas.”
Others making changes include:
* Scotia Capital’s Cameron Bean to $21 from $20 with a “sector outperform” rating.
* BMO Nesbitt Burns’ Ray Kwan to $18 from $17 with an “outperform” rating.
TOPAZ ENERGY CORP
14.97+1.56 (11.64%)
YEAR TO DATE