Tamarack Valley Energy Maintained at Outperform at National Bank After Q4 Results; Price Target Kept at C$6.50
02:08 PM EST, 02/28/2024 (MT Newswires) -- National Bank Financial on Wednesday reiterated its outperform rating on the shares of Tamarack Valley Energy (TVE.TO) and its C$6.50 price target after the Western Canadian oil and gas producer reported fourth-quarter results.
"TVE reported fourth quarter operating & financial results in line with expectations, including average production of 64.9 mboe/d (85% liquids) and associated CFPS of $0.35 (vs. consensus $0.34) ... A very sound performance, which continues to accentuate the long-term value profile the company is manifesting through disciplined & high-graded investments in top tier asset; TVE is poised for a 2% return profile (vs. peers 14%) on leverage of 1.0x (vs. peers 0.7x), while trading at 3.2x 2024e EV/DACF (vs. peers 2.9x)," analyst Dan Payne wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 3.32, Change: -0.04, Percent Change: -1.12