Tenaz Energy (TSE:TNZ) Given a C$80.00 Price Target by Canadian Imperial Bank of Commerce Analysts

Key Points

• Canadian Imperial Bank of Commerce set a C$80.00 price target and an "outperform" rating on Tenaz Energy, implying roughly a 33.82% upside from the recent close.
• Analyst sentiment is broadly positive with a consensus "Buy" rating and an average price target of C$72.00, after recent target increases from National Bank Financial (to C$66.00) and Haywood Securities (to C$70.00).
• Shares traded down 5.4% to C$59.78 with a market cap of C$1.92 billion, while the company reported strong quarterly results (EPS C$3.66) and unusually high profitability metrics (net margin ~109% and ROE ~112%).

Tenaz Energy (TSE:TNZ - Get Free Report) received a C$80.00 price objective from investment analysts at Canadian Imperial Bank of Commerce in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Canadian Imperial Bank of Commerce's price objective indicates a potential upside of 33.82% from the company's previous close.

A number of other analysts have also issued reports on the company. National Bank Financial boosted their target price on Tenaz Energy from C$52.00 to C$66.00 and gave the company an "outperform" rating in a research report on Tuesday, February 3rd. Haywood Securities lifted their price objective on shares of Tenaz Energy from C$55.00 to C$70.00 in a report on Monday, March 16th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of C$72.00.

Tenaz Energy Trading Down 5.4%

TSE TNZ traded down C$3.44 on Wednesday, reaching C$59.78. The stock had a trading volume of 162,112 shares, compared to its average volume of 256,626. The firm has a market capitalization of C$1.92 billion, a price-to-earnings ratio of 5.97 and a beta of 0.72. The company has a quick ratio of 2.77, a current ratio of 0.94 and a debt-to-equity ratio of 77.90. Tenaz Energy has a 12-month low of C$10.59 and a 12-month high of C$69.10. The stock has a fifty day moving average price of C$51.24 and a two-hundred day moving average price of C$34.77.

Tenaz Energy (TSE:TNZ - Get Free Report) last announced its earnings results on Thursday, March 12th. The company reported C$3.66 earnings per share (EPS) for the quarter. The company had revenue of C$231.30 million for the quarter. Tenaz Energy had a return on equity of 112.36% and a net margin of 109.18%. As a group, sell-side analysts forecast that Tenaz Energy will post 0.3896418 EPS for the current fiscal year.

About Tenaz Energy

Tenaz Energy Corp. TSX: TNZ is a public energy company focused on the acquisition and sustainable development of international oil and gas assets capable of returning free cash flow to shareholders.Tenaz has domestic operations in Canada along with offshore gas assets in the Netherlands. The domestic operations consist of a semi-conventional oil project in the Rex member of the Upper Mannville group at Leduc-Woodbend in central Alberta. The Netherlands gas assets are located in the Dutch sector of the North Sea.

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