Canacol Energy (CNE) Stock Forecast & Price Target

C$4.43

+0.10 (+2.31%)

(As of 07/26/2024 05:27 PM ET)

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Canacol Energy - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Reduce
Based on 3 Analyst Ratings

Based on 3 Wall Street analysts who have issued ratings for Canacol Energy in the last 12 months, the stock has a consensus rating of "Reduce." Out of the 3 analysts, 1 has given a sell rating, and 2 have given a hold rating for CNE.

Consensus Price Target

C$7.50
69.30% Upside

High Forecast	C$9.00
Average Forecast	C$7.50
Low Forecast	C$5.50

According to the 3 analysts' twelve-month price targets for Canacol Energy, the average price target is C$7.50. The highest price target for CNE is C$9.00, while the lowest price target for CNE is C$5.50. The average price target represents a forecasted upside of 69.30% from the current price of C$4.43.

Type	Current Forecast 7/28/23 to 7/27/24	1 Month Ago 6/28/23 to 6/27/24	3 Months Ago 4/29/23 to 4/28/24	1 Year Ago 7/28/22 to 7/28/23
Consensus Rating	Reduce	Reduce	Hold	N/A
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	N/A
Buy	0 Buy rating(s)	0 Buy rating(s)	0 Buy rating(s)	N/A
Hold	2 Hold rating(s)	2 Hold rating(s)	3 Hold rating(s)	N/A
Sell	1 Sell rating(s)	1 Sell rating(s)	0 Sell rating(s)	N/A
Consensus Price Target	C$7.50	C$7.47	C$7.80	N/A
Forecasted Upside	69.30% Upside	36.92% Upside	26.83% Upside	N/A

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CNE Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

CNE Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Canacol Energy Stock vs. The Competition

Type	Canacol Energy	Energy Companies
Consensus Rating Score	1.67	2.72
Consensus Rating	Reduce	Moderate Buy
News Sentiment Rating	Positive News	Neutral News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Action	Rating	Price Target	Upside/Downside on Report Date
7/16/2024	Jefferies Financial Group 2 of 5 stars	Boost Target	Hold	C$5.40 ➝ C$5.50	+14.58%
4/29/2024	JPMorgan Chase & Co. 3 of 5 stars	Downgrade	Neutral ➝ Underperform	C$8.00	+60.00%
10/23/2023	Eight Capital 5 of 5 stars	Downgrade	Buy ➝ Neutral	C$30.00 ➝ C$9.00	+26.94%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 06:05 AM ET.

CNE Forecast - Frequently Asked Questions

What is Canacol Energy's forecast for 2024?: According to the research reports of 3 Wall Street equities research analysts, the average twelve-month stock price forecast for Canacol Energy is C$7.50, with a high forecast of C$9.00 and a low forecast of C$5.50.
Should I buy or sell Canacol Energy stock right now?: 3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Canacol Energy in the last year. There is currently 1 sell rating and 2 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "reduce" CNE shares.
Does Canacol Energy's stock price have much upside?: According to analysts, Canacol Energy's stock has a predicted upside of 33.21% based on their 12-month stock forecasts.
Has Canacol Energy been downgraded by Wall Street analysts recently?: Over the previous 90 days, Canacol Energy's stock had 1 downgrade by analysts.
What analysts cover Canacol Energy?: Canacol Energy has been rated by research analysts at Jefferies Financial Group, and JPMorgan Chase & Co. in the past 90 days.
Do Wall Street analysts like Canacol Energy more than its competitors?: Analysts like Canacol Energy less than other "energy" companies. The consensus rating for Canacol Energy is Reduce while the average consensus rating for "energy" companies is Moderate Buy. Learn more on how CNE compares to other companies.