Trican Well Service (TSE:TCW) Price Target Raised to C$7.50

Key Points

• Royal Bank of Canada raised its price target for Trican Well Service from C$7.00 to C$7.50, indicating a potential upside of 20.77% from the stock's previous close.
• Several analysts have increased their price targets for Trican Well Service, with current consensus rating at "Moderate Buy" and an average target price of C$6.42.
• The company's stock is currently trading at C$6.21, showing a 12-month high of C$6.39 and a low of C$3.69.

Trican Well Service (TSE:TCW - Get Free Report) had its price target hoisted by analysts at Royal Bank Of Canada from C$7.00 to C$7.50 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 20.77% from the stock's previous close.

A number of other brokerages also recently issued reports on TCW. TD Securities increased their price target on shares of Trican Well Service from C$4.75 to C$5.50 and gave the company a "hold" rating in a report on Friday, July 4th. ATB Capital raised their target price on shares of Trican Well Service from C$5.50 to C$6.50 and gave the company an "outperform" rating in a report on Friday, July 4th. BMO Capital Markets raised their target price on shares of Trican Well Service from C$5.00 to C$6.00 and gave the company an "outperform" rating in a report on Friday, July 4th. Raymond James Financial raised shares of Trican Well Service from a "hold" rating to a "moderate buy" rating and raised their price target for the stock from C$5.00 to C$6.50 in a research note on Friday, July 4th. Finally, National Bankshares lifted their price target on shares of Trican Well Service from C$5.75 to C$6.50 and gave the stock a "sector perform" rating in a report on Friday, July 4th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$6.42.

Trican Well Service Price Performance

Shares of TCW traded up C$0.03 during trading hours on Thursday, reaching C$6.21. The company had a trading volume of 270,134 shares, compared to its average volume of 522,566. The firm has a 50 day simple moving average of C$5.90 and a 200-day simple moving average of C$5.06. The company has a current ratio of 2.62, a quick ratio of 1.75 and a debt-to-equity ratio of 5.89. The company has a market capitalization of C$1.32 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.22 and a beta of 0.40. Trican Well Service has a 12-month low of C$3.69 and a 12-month high of C$6.39.

About Trican Well Service

Trican Well Service Ltd is an equipment services company. It provides products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily through its continuing pressure pumping operations in Canada. The company offers services related to coiled tubing, pipeline service, cementing, fracturing and reservoir solutions.

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