CIBC Issues Positive Forecast for Paramount Resources (TSE:POU) Stock Price

Key Points

• CIBC raised its price target for Paramount Resources stock from C$25.00 to C$26.00, indicating a potential upside of 15.66% from its previous close.
• Multiple brokerages have increased their price targets, with National Bankshares now targeting C$27.50, demonstrating a growing confidence in the company's stock performance.
• The stock is currently trading at C$22.48, reflecting a 1.2% increase in midday trading, while it has a market cap of C$3.22 billion.

Paramount Resources (TSE:POU - Get Free Report) had its price target raised by stock analysts at CIBC from C$25.00 to C$26.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC's price target indicates a potential upside of 15.66% from the stock's previous close.

A number of other brokerages have also weighed in on POU. National Bankshares lifted their price target on shares of Paramount Resources from C$25.00 to C$27.50 and gave the company a "sector perform" rating in a report on Thursday, September 25th. Jefferies Financial Group lifted their target price on shares of Paramount Resources from C$21.00 to C$25.00 in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada lifted their target price on shares of Paramount Resources from C$23.00 to C$26.00 and gave the company a "sector perform" rating in a report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$25.79.

Paramount Resources Trading Up 1.2%

POU stock traded up C$0.26 during midday trading on Wednesday, hitting C$22.48. The stock had a trading volume of 70,865 shares, compared to its average volume of 590,845. The firm has a market cap of C$3.22 billion, a PE ratio of 2.24, a price-to-earnings-growth ratio of 0.14 and a beta of 0.49. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.62 and a quick ratio of 0.68. Paramount Resources has a 12-month low of C$14.33 and a 12-month high of C$32.83. The company's 50-day moving average price is C$21.11 and its 200 day moving average price is C$19.91.

Paramount Resources Company Profile

Paramount Resources Ltd is a Canadian energy company that explores, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The company takes part in exploration and production in Alberta and British Columbia. Sales for Paramount's products are priced in a multitude of markets that span the United States and Canada.

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