Analysts at Canaccord Genuity initiated coverage on shares of Contact Exploration (CVE:CEX) in a research report issued to clients and investors on Wednesday. The firm set a “speculative buy” rating and a C$0.80 price target on the stock. Canaccord Genuity’s price target would suggest a potential upside of 73.91% from the company’s current price.

Contact Exploration Inc is engaged in the exploration for and production of petroleum and natural gas.