10:55 AM EST, 01/19/2022 (MT Newswires) -- ATB Capital Markets raised its outlook for the energy services sector, increasing price targets for 18 stocks.
Analyst Waqar Syed raised his target on Ensign Energy Services Inc. (ESI.TO) to $4.75 from $3.00, and maintained an Outperform rating.
Syed increased his target on Precision Drilling Corp. (PD.TO) to $91 from $75, and maintained an Outperform rating.
The analyst raised his target on Calfrac Well Services Ltd. (CFW.TO) to $6.50 from $5.25, and maintained a Sector Perform rating.
He raised his target on STEP Energy Services Ltd. (STEP.TO) to $4.00 from $3.00, and maintained an Outperform rating.
Syed increased his target on Trican Well Service Ltd. (TCW.TO) to $4.25 from $4.00, and maintained an Outperform rating.
"Overall, we see upside risk to consensus 2022 EBITDA estimates," the analyst said in a note to clients. "That said, in our view, 2022e EV/EBITDA multiples have quickly appreciated to more normal levels, and for further near-term stock appreciation, estimates will need to be revised higher following Q4/21 results."
10:55 AM EST, 01/19/2022 (MT Newswires) -- ATB Capital Markets raised its outlook for the energy services sector, increasing price targets for 18 stocks.
Analyst Waqar Syed raised his target on Ensign Energy Services Inc. (ESI.TO) to $4.75 from $3.00, and maintained an Outperform rating.
Syed increased his target on Precision Drilling Corp. (PD.TO) to $91 from $75, and maintained an Outperform rating.
The analyst raised his target on Calfrac Well Services Ltd. (CFW.TO) to $6.50 from $5.25, and maintained a Sector Perform rating.
He raised his target on STEP Energy Services Ltd. (STEP.TO) to $4.00 from $3.00, and maintained an Outperform rating.
Syed increased his target on Trican Well Service Ltd. (TCW.TO) to $4.25 from $4.00, and maintained an Outperform rating.
"Overall, we see upside risk to consensus 2022 EBITDA estimates," the analyst said in a note to clients. "That said, in our view, 2022e EV/EBITDA multiples have quickly appreciated to more normal levels, and for further near-term stock appreciation, estimates will need to be revised higher following Q4/21 results."