Lycos Energy (CVE:LCX) Stock Price Up 4.6% Following Analyst Upgrade

Key Points

• Lycos Energy shares jumped about 4.6% after National Bank Financial raised its price target from C$0.70 to C$2.50 while keeping a sector perform rating; the stock traded as high as C$2.04 and last at C$2.03 on intraday volume of 224,749 (roughly 48% below average).
• Analyst views are mixed—Haywood upgraded the stock to a "buy" but cut its target to C$0.65, and overall the consensus is a Moderate Buy with an average price target of C$1.73 (two Buy, two Hold); Lycos has a market cap of C$108.1M, a negative P/E of -1.71, and operates heavy-oil assets in Saskatchewan and Lloydminster.

Lycos Energy Inc. (CVE:LCX - Get Free Report)'s stock price traded up 4.6% during trading on Thursday after National Bank Financial raised their price target on the stock from C$0.70 to C$2.50. National Bank Financial currently has a sector perform rating on the stock. Lycos Energy traded as high as C$2.04 and last traded at C$2.03. 224,749 shares were traded during mid-day trading, a decline of 48% from the average session volume of 432,513 shares. The stock had previously closed at C$1.94.

Separately, Haywood Securities upgraded shares of Lycos Energy from a "hold" rating to a "buy" rating and lowered their price objective for the company from C$1.50 to C$0.65 in a research report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Lycos Energy presently has a consensus rating of "Moderate Buy" and an average price target of C$1.73.

Lycos Energy Stock Up 8.0%

The stock has a market cap of C$108.07 million, a price-to-earnings ratio of -1.71 and a beta of 0.68. The company has a 50 day simple moving average of C$1.39 and a 200 day simple moving average of C$1.17.

About Lycos Energy

Lycos Energy Inc, a junior resource company, engages in the development and production of petroleum and natural gas in Western Canada. The company operates heavy-oil development assets in the Gull Lake area of southwest Saskatchewan and heavy-oil assets in the Lloydminster area. Lycos Energy Inc is headquartered in Calgary, Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.