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) > BMO with $8 Target price

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Post by alhiemstra on May 13, 2024 11:28am

BMO with $8 Target price

BMO’s Tariq Saad reinstated coverage of Cardinal Energy Ltd with a “market perform” rating and $8 target. The average is $8.33.

“Cardinal is an intermediate producer with heavy and light/medium oil producing assets primarily in Alberta and Saskatchewan. We see the potential for future upside via the development of the company’s SAGD projects at Reford, which should add material free cash flow when fully developed and will complement Cardinal’s existing low decline rate. That said, Cardinal’s shares trade at a sizable premium, and we believe that some of its peers currently offer better relative value,” he said.

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Comment by JayBanks on May 13, 2024 11:51am

If shares trade at a 'premium' wouldn't that mean the shares trade above their assessed target/fair value price? I ignore analyst's opinions for most part, they are 'noise'...

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