Bullboard - Stock Discussion Forum Baytex Energy Corp T.BTE

Alternate Symbol(s): BTE

Energy Oil & Gas E&P

Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay... see more

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TSX:BTE - Post Discussion

Baytex Energy Corp > Scotiabank Upgrades Baytex Energy

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Post by AnalystGrimes on Jul 18, 2021 8:43am

Scotiabank Upgrades Baytex Energy

Going to start seeing these kinds of upgrades often now. Opec deal came true about an hour ago and they are only adding 400,000 barrels per day which isn't enough for demand.

Scotiabank maintained the Sector Perform rating on Baytex Energy with a raised to target $2.75 from $2.25.

Stocktargetadvisor has a average target of $3.49 and a consensus Underperform rating on the stock.

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Comment by jdmecomber on Jul 18, 2021 9:20am

Curious how the marke reacts to the opec news?

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Comment by AnalystGrimes on Jul 18, 2021 9:34am

Market reacted negative when there was no deal. Everyone knew they had to add some barrels. When the deal wasn't reached and went for almost two weeks it scared the market. With only 400k being added this is a bull sign and now we know what is going on. Always remember when Cramer says something do the opposite!

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