Secure Energy Services (TSE:SES) Cut to Tender at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce downgraded Secure Energy Services from "neutral" to "tender" but raised its price target to C$24.75, implying roughly an 11.7% upside from current levels.
• Several other brokers also raised price targets while adjusting ratings (mix of Buy/Hold/Market Perform), and MarketBeat's consensus remains Hold with an average target of C$22.91.
• Shares slipped 1.2% to C$22.16 on heavy volume (2.63M vs. a 689k average); the company shows high leverage (debt-to-equity 145.08) and a PE of 41.04.

Secure Energy Services (TSE:SES - Get Free Report) was downgraded by stock analysts at Canadian Imperial Bank of Commerce from a "neutral" rating to a "tender" rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They presently have a C$24.75 price target on the stock, up from their previous price target of C$22.50. Canadian Imperial Bank of Commerce's price objective would suggest a potential upside of 11.69% from the company's current price.

Several other research firms have also recently commented on SES. Stifel Nicolaus boosted their price target on shares of Secure Energy Services from C$23.50 to C$26.00 and gave the company a "buy" rating in a report on Monday, February 23rd. National Bank Financial upped their price objective on shares of Secure Energy Services from C$19.00 to C$21.00 and gave the stock a "sector perform" rating in a report on Monday, February 23rd. BMO Capital Markets upped their price objective on shares of Secure Energy Services from C$19.00 to C$20.00 and gave the stock a "market perform" rating in a report on Monday, February 23rd. Raymond James Financial cut shares of Secure Energy Services from an "outperform" rating to a "market perform" rating and upped their price objective for the stock from C$22.00 to C$24.75 in a report on Tuesday. Finally, ATB Cormark Capital Markets upped their price objective on shares of Secure Energy Services from C$21.00 to C$23.00 and gave the stock a "hold" rating in a report on Monday, February 23rd. Seven research analysts have rated the stock with a Hold rating, According to MarketBeat, Secure Energy Services presently has an average rating of "Hold" and a consensus price target of C$22.91.

Secure Energy Services Stock Down 1.2%

Shares of Secure Energy Services stock traded down C$0.28 on Tuesday, hitting C$22.16. 2,629,375 shares of the company traded hands, compared to its average volume of 689,873. The company has a 50-day moving average price of C$20.23 and a 200 day moving average price of C$18.69. The company has a quick ratio of 1.10, a current ratio of 1.21 and a debt-to-equity ratio of 145.08. Secure Energy Services has a 12-month low of C$12.46 and a 12-month high of C$23.90. The company has a market cap of C$4.80 billion, a PE ratio of 41.04, a PEG ratio of 0.17 and a beta of 0.27.

Secure Energy Services Company Profile

SECURE is a leading waste management and energy infrastructure business headquartered in Calgary, Alberta. The Corporation's extensive infrastructure network located throughout western Canada and North Dakota includes waste processing and transfer facilities, industrial landfills, metal recycling facilities, crude oil and water gathering pipelines, crude oil terminals and storage facilities. Through this infrastructure network, the Corporation carries out its principal business operations, including the collection, processing, recovery, recycling and disposal of waste streams generated by our energy and industrial customers and gathering, optimization, terminalling and storage of crude oil and natural gas liquids.

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