Royal Bank Of Canada Forecasts Strong Price Appreciation for CES Energy Solutions (TSE:CEU) Stock

Key Points

• Royal Bank of Canada has increased its price target for CES Energy Solutions (TSE:CEU) from C$10.00 to C$11.00, indicating a potential upside of 17.65%.
• Multiple research analysts have upgraded CES Energy Solutions, with National Bank Financial changing its rating from "hold" to "strong-buy" and setting a target price of C$14.50.
• CES Energy Solutions' stock is currently trading at C$9.35, down 0.5%, with a market capitalization of C$2.05 billion and an average rating of "Buy" from analysts.

CES Energy Solutions (TSE:CEU - Get Free Report) had its price objective boosted by research analysts at Royal Bank Of Canada from C$10.00 to C$11.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 17.65% from the stock's current price.

CEU has been the subject of a number of other research reports. National Bank Financial raised shares of CES Energy Solutions from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 2nd. National Bankshares raised shares of CES Energy Solutions from a "sector perform" rating to an "outperform" rating and set a C$14.50 target price for the company in a research report on Thursday, July 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat.com, CES Energy Solutions has an average rating of "Buy" and an average price target of C$10.68.

CES Energy Solutions Trading Down 0.5%

CEU traded down C$0.05 during mid-day trading on Thursday, hitting C$9.35. The stock had a trading volume of 422,295 shares, compared to its average volume of 613,194. The stock's fifty day simple moving average is C$8.37 and its 200-day simple moving average is C$7.24. The company has a debt-to-equity ratio of 57.26, a current ratio of 2.82 and a quick ratio of 1.78. The firm has a market capitalization of C$2.05 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 0.61 and a beta of 0.88. CES Energy Solutions has a 1-year low of C$5.59 and a 1-year high of C$10.20.

About CES Energy Solutions

CES Energy Solutions Corp provides consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at drill-bit, at point of completion and stimulation, at wellhead and pump-jack, and to the pipeline and midstream market. Its geographical segments are the United States and Canada, of which the majority of its revenue comes from the United States.

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