CIBC Increases Tourmaline Oil Corp Price Target to C$63.00 (TOU)
CIBC increased their target price on shares of Tourmaline Oil Corp (TSE:TOU) from C$57.00 to C$63.00 in a research note issued on Friday, StockRatingsNetwork.com reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price points to a potential upside of 24.56% from the company’s current price.
Shares of Tourmaline Oil Corp (TSE:TOU) opened at 50.58 on Friday. Tourmaline Oil Corp has a 52-week low of $34.81 and a 52-week high of $51.45. The stock’s 50-day moving average is $47.64 and its 200-day moving average is $43.03. The company has a P/E ratio of 84.72.
A number of other analysts have also recently weighed in on TOU. Analysts at RBC Capital raised their price target on shares of Tourmaline Oil Corp from C$55.00 to C$60.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at TD Securities downgraded shares of Tourmaline Oil Corp from an “action list buy” rating to a “buy” rating in a research note on Thursday. They now have a C$60.00 price target on the stock, up previously from C$54.00. Finally, analysts at Scotiabank raised their price target on shares of Tourmaline Oil Corp from C$55.00 to C$58.00 in a research note on Thursday. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of C$57.83.
Tourmaline Oil Corp. (TSE:TOU) is an intermediate crude oil and natural gas exploration and production company focused on exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin (WCSB).
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