CIBC Increases NuVista Energy (TSE:NVA) Price Target to C$20.00

Key Points

• CIBC has raised its price target for NuVista Energy from C$19.00 to C$20.00, suggesting a potential upside of 24.38% from the stock's previous close.
• While CIBC is bullish, other analysts like TD Securities and Desjardins have downgraded NuVista, lowering their price targets to C$17.00.
• Currently, NuVista Energy's stock consensus rating stands at "Moderate Buy" with an average target price of C$18.07 from various analysts.

NuVista Energy (TSE:NVA - Get Free Report) had its target price boosted by equities research analysts at CIBC from C$19.00 to C$20.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. CIBC's price objective indicates a potential upside of 24.38% from the stock's previous close.

A number of other research firms also recently commented on NVA. TD Securities downgraded shares of NuVista Energy from a "buy" rating to a "hold" rating and dropped their price objective for the company from C$18.00 to C$17.00 in a research note on Tuesday, September 30th. Desjardins downgraded shares of NuVista Energy from a "buy" rating to a "hold" rating and dropped their price objective for the company from C$17.50 to C$17.00 in a research note on Tuesday, August 26th. Raymond James Financial downgraded shares of NuVista Energy from a "moderate buy" rating to a "hold" rating and set a C$17.00 price objective for the company. in a research note on Thursday, July 3rd. National Bankshares boosted their target price on NuVista Energy from C$16.00 to C$18.60 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Scotiabank boosted their target price on NuVista Energy from C$16.00 to C$19.00 in a report on Thursday, October 9th. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, NuVista Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of C$18.07.

NuVista Energy Stock Performance

NVA stock remained flat at C$16.08 during trading on Wednesday. 379,930 shares of the company traded hands, compared to its average volume of 823,491. The company has a fifty day moving average price of C$15.23 and a 200 day moving average price of C$14.16. NuVista Energy has a 12-month low of C$10.34 and a 12-month high of C$17.04. The company has a market capitalization of C$3.17 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 0.59 and a beta of 0.46. The company has a debt-to-equity ratio of 14.11, a quick ratio of 0.78 and a current ratio of 0.87.

About NuVista Energy

NuVista Energy Ltd engages in the exploration, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin. Products sold include natural gas, condensate & oil, butane, propane, and ethane, with condensate composing nearly half of all sales. Condensate finds significant use in the heavy oil business when applied to heavy oil bitumen.

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