Baytex Energy Stock Rating Upgraded by Barclays (BTE)
Baytex Energy (TSE:BTE) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Thursday, StockRatingsNetwork reports. The firm currently has a C$48.00 target price on the stock, up from their previous target price of C$46.00. Barclays’ price objective would suggest a potential upside of 15.80% from the company’s current price.
Shares of Baytex Energy (TSE:BTE) traded up 3.50% on Thursday, hitting $41.45. The stock had a trading volume of 730,742 shares. Baytex Energy has a 52-week low of $36.37 and a 52-week high of $47.60. The stock’s 50-day moving average is $42.01 and its 200-day moving average is $40.94.
Several other analysts have also recently commented on the stock. Analysts at CSFB downgraded shares of Baytex Energy from an “outperform” rating to a “neutral” rating in a research note to investors on Monday. Separately, analysts at Credit Suisse downgraded shares of Baytex Energy from an “outperform” rating to a “neutral” rating in a research note to investors on Monday. Finally, analysts at Canaccord Genuity raised their price target on shares of Baytex Energy from C$51.00 to C$53.00 in a research note to investors on Tuesday, January 7th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of C$50.50.
Baytex Energy Corp. (TSE:BTE), through its subsidiaries, are engaged in the business of acquiring, developing, exploiting and holding interests in petroleum and natural gas properties and related assets in Canada (in the provinces of British Columbia, Alberta and Saskatchewan) and in the United States (in the states of North Dakota and Wyoming).
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