Dundee Securities Increases Transglobe Energy Price Target to $12.50 (TGA)
Research analysts at Dundee Securities increased their target price on shares of Transglobe Energy (NYSE:TGA) from $8.10 to $12.50 in a report released on Friday, Analyst Ratings Network reports. Dundee Securities’ target price suggests a potential upside of 35.72% from the company’s current price.
Transglobe Energy (NYSE:TGA) traded up 8.10% during mid-day trading on Friday, hitting $9.21. 363,319 shares of the company’s stock traded hands. Transglobe Energy has a 1-year low of $5.52 and a 1-year high of $12.58. The stock’s 50-day moving average is $7.33 and its 200-day moving average is $7.24. The company has a market cap of $680.6 million and a P/E ratio of 9.53.
Transglobe Energy (NYSE:TGA) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.22 EPS for the quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse raised their price target on shares of Transglobe Energy (NYSE:TGA) from $8.00 to $9.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Zacks upgraded shares of Transglobe Energy (NYSE:TGA) from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday. They now have a $8.70 price target on the stock. Finally, analysts at Zacks upgraded shares of Transglobe Energy (NYSE:TGA) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, August 20th. They now have a $6.70 price target on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $11.97.
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).
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