Southern Pacific Resource Given “Sector Perform” Rating at RBC Capital (STP)
Southern Pacific Resource (TSE:STP)‘s stock had its “sector perform” rating restated by equities researchers at RBC Capital in a research report issued on Wednesday, AmericanBankingNews.com reports. They currently have a C$0.75 target price on the stock. RBC Capital’s price objective would indicate a potential downside of 3.85% from the company’s current price.
A number of other firms have also recently commented on STP. Analysts at BMO Capital Markets raised their price target on shares of Southern Pacific Resource from C$0.75 to C$0.90 in a research note to investors on Wednesday. Separately, analysts at TD Securities upgraded shares of Southern Pacific Resource from a “hold” rating to a “speculative buy” rating in a research note to investors on Wednesday. They now have a C$1.00 price target on the stock, up previously from C$0.70. Finally, analysts at Pi Financial upgraded shares of Southern Pacific Resource 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. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Southern Pacific Resource presently has an average rating of “Buy” and a consensus price target of C$1.02.
Southern Pacific Resource (TSE:STP) traded up 4.00% on Wednesday, hitting $0.78. The stock had a trading volume of 3,097,700 shares. Southern Pacific Resource has a 52-week low of $0.31 and a 52-week high of $1.45. The stock’s 50-day moving average is $0.41 and its 200-day moving average is $0.5. The company’s market cap is $310.4 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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