Scotiabank Issues Positive Forecast for CES Energy Solutions (TSE:CEU) Stock Price

Key Points

• Scotiabank has raised its price target for CES Energy Solutions (TSE:CEU) from C$9.50 to C$10.25, suggesting an upside potential of 18.63% from the previous close.
• Other analysts, including National Bank Financial and Royal Bank Of Canada, have also upgraded their ratings and price targets for CEU, with an average target of C$10.96 reflecting a generally positive outlook.
• As of the latest trading session, CES Energy Solutions shares were down to C$8.64, with a market capitalization of approximately C$1.89 billion.

CES Energy Solutions (TSE:CEU - Get Free Report) had its price objective lifted by equities researchers at Scotiabank from C$9.50 to C$10.25 in a report issued on Friday,BayStreet.CA reports. Scotiabank's price target would indicate a potential upside of 18.63% from the company's previous close.

A number of other equities analysts have also weighed in on CEU. National Bank Financial upgraded shares of CES Energy Solutions from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada upped their price target on shares of CES Energy Solutions from C$10.00 to C$11.00 and gave the company an "outperform" rating in a research note on Thursday, October 9th. TD Securities boosted their target price on shares of CES Energy Solutions from C$9.00 to C$11.00 in a report on Tuesday. Finally, 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 on the stock in a report on Thursday, July 3rd. Two investment analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of C$10.96.

CES Energy Solutions Stock Performance

Shares of CEU traded down C$0.15 during mid-day trading on Friday, hitting C$8.64. The stock had a trading volume of 359,848 shares, compared to its average volume of 614,442. The business has a fifty day moving average price of C$8.59 and a 200-day moving average price of C$7.31. CES Energy Solutions has a 52 week low of C$5.59 and a 52 week high of C$10.20. The firm has a market cap of C$1.89 billion, a P/E ratio of 10.80, a PEG ratio of 0.61 and a beta of 0.88. The company has a debt-to-equity ratio of 57.26, a current ratio of 2.82 and a quick ratio of 1.78.

CES Energy Solutions Company Profile

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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