Gibson Energy (TSE:GEI) Price Target Raised to C$34.00 at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised Gibson Energy’s price target from C$33.00 to C$34.00, implying 4.07% upside from the previous close.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of C$31.27, despite mixed recent rating changes.
• Gibson Energy shares traded at C$32.67, near their 12-month high of C$32.99. The company reported quarterly EPS of C$0.48 and revenue of C$4.83 billion.

Gibson Energy (TSE:GEI - Get Free Report) had its price objective upped by stock analysts at Canadian Imperial Bank of Commerce from C$33.00 to C$34.00 in a report issued on Wednesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's target price suggests a potential upside of 4.07% from the stock's previous close.

A number of other research analysts have also commented on the stock. BMO Capital Markets upped their price target on shares of Gibson Energy from C$29.00 to C$32.00 in a research note on Tuesday. TD upgraded shares of Gibson Energy from a "hold" rating to a "buy" rating and raised their price objective for the stock from C$29.00 to C$32.00 in a research report on Tuesday, May 26th. Scotiabank boosted their price objective on Gibson Energy from C$29.00 to C$31.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 21st. TD Securities upgraded Gibson Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group cut Gibson Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$31.27.

Gibson Energy Stock Performance

Shares of TSE GEI traded up C$0.56 during midday trading on Wednesday, hitting C$32.67. 399,352 shares of the company's stock were exchanged, compared to its average volume of 807,400. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 294.95. The firm has a market capitalization of C$5.63 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 1.85 and a beta of 0.11. Gibson Energy has a 12 month low of C$22.09 and a 12 month high of C$32.99. The company's 50 day moving average price is C$29.67 and its 200 day moving average price is C$28.75.

Gibson Energy (TSE:GEI - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The company reported C$0.48 earnings per share (EPS) for the quarter. Gibson Energy had a return on equity of 18.23% and a net margin of 1.32%.The business had revenue of C$4.83 billion during the quarter.

Gibson Energy Company Profile

Gibson is a leading liquids Infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of liquids and refined products, as well as waterborne vessel loading. Headquartered in Calgary, Alberta, the Company's operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alberta, Ingleside and Wink, Texas, and a facility in Moose Jaw, Saskatchewan. Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange.

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