Globe and Mail - Aug 3rd - Online editionStifel analyst Robert Fitzmartyn raised his rating for GXE to Buy from Hold following release of Q2 results.
Mr. Fitzmartyn has a $1 target for GXE shares.
I have attached a copy of the paragraph below. Hopefully one can see it.
Pointing to its potential return, Stifel analyst Robert Fitzmartyn raised his rating for Gear Energy Ltd. (
) to “buy” from “hold” following the release of in-line second-quarter financial results.
“The company has left associated 2021 guidance unchanged, as it continues to be focused on deleveraging its balance sheet,” he said.
Mr. Fitmartyn kept a $1 target for Gear shares, which is 9 cents below the consensus.
“We are maintaining our 12-month target price at $1.00/sh, but switching from a HOLD to BUY rating based on implied returns to a 2022 estimated EV/DACF of 3.8 times which screens in line with its peers,” he said.