C$5 price targetLaurentian Bank Securities said Probe’s drilling validated its 3-D model and highlighted a significant resource increase potential.
“We believe the high hit-ratio of drilling suggests a resource increase of +20%,” analyst Barry Allan wrote in a note on Tuesday. Allan has a buy rating on the stock and a C$5 price target. Probe shares added C$0.01 on Tuesday to trade at C$1.19. The stock touched a high of C$2.31 this year in March and April and is valued at about C$182 million.
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