Bullboard - Stock Discussion Forum Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s): CRLFF

Energy Oil & Gas E&P

Cardinal Energy Ltd. is a Canadian oil and natural gas company with operations focused on low decline oil in Western Canada. The Company is engaged in the acquisition, development, optimization and production of crude oil and natural gas in the provinces of Alberta, British Columbia and Saskatchewan. Its operating areas include the Midale, South District, Central District, and North District... see more

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TSX:CJ - Post Discussion

Cardinal Energy Ltd (Alberta) > RBC Upgraded Price target $9

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Post by alhiemstra on Nov 08, 2023 12:02pm

RBC Upgraded Price target $9

RBC’s Luke Davis raised his Cardinal Energy Ltd. target to $9 from $8, keeping a “sector perform” rating. The average is $9.14.
“Cardinal’s Q3 report was punctuated by a strategic shift toward thermal development with management identifying three SAGD projects within the portfolio while building out the technical team to support future growth,” said Mr. Davis. “While we view the move favourably given it should ultimately improve the sustainability and productive capacity of the business, the long-cycle nature of the projects and up front capital outlay impact relative sustainability near-term.”

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