Globe says Crescent Point reaffirmed at "outperform"Crescent Point Energy Corp (C:CPG)
Shares Issued 579,484,032
Last Close 2/4/2022 $8.44
Friday February 4 2022 - In the News
The Globe and Mail reports in its Friday edition that analysts at National Bank Financial reiterated their view that the Canadian oil and gas sector is poised to deliver another year of strong returns, believing many companies "provide compelling investment opportunities in today's commodity price environment." The Globe's David Leeder writes that National Bank analysts continue to rate Crescent Point Energy "outperform." The National Bank analysts boosted their share target to $15.50 to $13.50. Analysts on average target the shares at $10.25. National Bank analysts Travis Wood and Dan Payne said in a note: "Similar to last year, 2022 provides investors with a fascinating setup, backstopped by a myriad of factors that should complement the return of capital profile that investors are beginning to believe has some longer-term duration (with some skepticism). The well-documented tightness of the crude oil supply/demand complex is now compounded by growing geopolitical tensions, and given the continued strengthening in demand, we remain of the view that spot prices will remain relatively strong throughout most of 2022." They expect earnings season to be a "relatively uneventful quarter on the operations front."