Transglobe Energy Rating Increased to Outperform at Zacks (TGA)
Transglobe Energy (NYSE:TGA) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday, Analyst Ratings Network.com reports. The firm currently has a $8.70 target price on the stock. Zacks‘ price objective points to a potential upside of 6.75% from the company’s current price.
Transglobe Energy (NYSE:TGA) traded up 1.36% on Thursday, hitting $8.261. 79,323 shares of the company’s stock traded hands. Transglobe Energy has a 52 week low of $5.52 and a 52 week high of $12.58. The stock’s 50-day moving average is $7.25 and its 200-day moving average is $7.23. The company has a market cap of $610.4 million and a price-to-earnings ratio of 9.12.
Transglobe Energy (NYSE:TGA) last announced its earnings results on Monday, August 12th. The company reported $0.22 EPS for the quarter.
TGA has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity cut their price target on shares of Transglobe Energy (NYSE:TGA) from $14.00 to $13.50 in a research note to investors on Friday, August 16th. They now have a “buy” rating on the stock. Separately, analysts at Dundee Securities downgraded shares of Transglobe Energy (NYSE:TGA) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, August 14th. They now have a $8.10 price target on the stock, down previously from $12.50. Finally, analysts at Credit Suisse cut their price target on shares of Transglobe Energy (NYSE:TGA) from $8.50 to $8.00 in a research note to investors on Tuesday, August 13th. They now have a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $11.43.
TransGlobe Energy Corporation (NYSE:TGA) is a Canadian-based oil exploration and production company whose continuing activities are concentrated in two main geographic areas: the Arab Republic of Egypt (Egypt) and the Republic of Yemen (Yemen).
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.