Desjardins Issues Positive Forecast for Tamarack Valley Energy (TSE:TVE) Stock Price

Key Points

• Desjardins has raised its price target for Tamarack Valley Energy (TSE:TVE) from C$5.50 to C$6.00, suggesting a potential upside of 10.09% from its previous close.
• Royal Bank of Canada upgraded its target price for the company to C$7.00, maintaining an "outperform" rating, while other analysts have also shown varying levels of optimism.
• Tamarack Valley Energy's stock has a current price of C$5.45, which is close to its 52-week high of C$5.53, and it has a market cap of C$2.88 billion.

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its price objective upped by equities researchers at Desjardins from C$5.50 to C$6.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. Desjardins' price target would indicate a potential upside of 10.09% from the company's previous close.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada lifted their target price on shares of Tamarack Valley Energy from C$6.00 to C$7.00 and gave the stock an "outperform" rating in a research report on Thursday. CIBC dropped their price target on Tamarack Valley Energy from C$6.50 to C$5.50 in a report on Thursday, April 10th. Raymond James Financial upped their price objective on Tamarack Valley Energy from C$6.00 to C$6.50 and gave the company an "outperform" rating in a research note on Thursday. Finally, ATB Capital raised their target price on Tamarack Valley Energy from C$6.00 to C$6.25 and gave the company an "outperform" rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$6.33.

Tamarack Valley Energy Stock Down 0.2%

Shares of TVE traded down C$0.01 during trading hours on Thursday, reaching C$5.45. 847,204 shares of the stock traded hands, compared to its average volume of 2,100,384. Tamarack Valley Energy has a 52 week low of C$3.10 and a 52 week high of C$5.53. The company has a market cap of C$2.88 billion, a price-to-earnings ratio of 13.95 and a beta of 2.49. The stock has a fifty day simple moving average of C$4.85 and a 200 day simple moving average of C$4.41. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61.

Insider Buying and Selling

In other Tamarack Valley Energy news, Director Rene Amirault purchased 85,500 shares of the stock in a transaction dated Monday, May 12th. The shares were bought at an average price of C$4.12 per share, with a total value of C$352,260.00. 1.32% of the stock is currently owned by company insiders.

About Tamarack Valley Energy

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.

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