Southern Pacific Resource’s Sector Perform Rating Reaffirmed at RBC Capital (STP)
Southern Pacific Resource (TSE:STP)‘s stock had its “sector perform” rating reiterated by equities researchers at RBC Capital in a research report issued on Tuesday, StockRatingsNetwork reports. They currently have a C$0.75 price objective on the stock. RBC Capital’s price target points to a potential upside of 15.38% from the company’s current price.
Separately, analysts at Pi Financial upgraded shares of Southern Pacific Resource (TSE:STP) from a “neutral” rating to a “buy” rating in a research note to investors on Friday, September 13th. They now have a C$1.20 price target on the stock, up previously from C$0.55.
Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Southern Pacific Resource has an average rating of “Hold” and an average target price of C$1.19.
Shares of Southern Pacific Resource (TSE:STP) traded up 18.18% during mid-day trading on Tuesday, hitting $0.65. The stock had a trading volume of 3,158,644 shares. Southern Pacific Resource has a 1-year low of $0.31 and a 1-year high of $1.45. The stock’s 50-day moving average is $0.44 and its 200-day moving average is $0.52. The company’s market cap is $258.6 million.
Southern Pacific Resource Corp. (TSE:STP) is engaged in the acquisition and development of heavy oil and bitumen producing properties, with a focus on thermal extraction in-situ oil sands projects in the Western Canadian sedimentary basin.
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