TD Securities Downgrades Calfrac Well Services to Buy (CFW)
Calfrac Well Services (TSE:CFW) was downgraded by TD Securities from an “action list buy” rating to a “buy” rating in a research note issued on Thursday, AmericanBankingNews.com reports. They currently have a C$47.00 price objective on the stock, up from their previous price objective of C$44.00. TD Securities’ target price would suggest a potential upside of 23.62% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley upgraded shares of Calfrac Well Services from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, April 16th. They now have a C$39.00 price target on the stock, up previously from C$31.00. Separately, analysts at Barclays initiated coverage on shares of Calfrac Well Services in a research note on Wednesday, April 16th. They set an “overweight” rating and a C$1.55 price target on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Calfrac Well Services from C$42.00 to C$44.00 in a research note on Friday, March 28th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Calfrac Well Services currently has a consensus rating of “Buy” and an average price target of C$37.21.
Shares of Calfrac Well Services (TSE:CFW) traded up 0.18% on Thursday, hitting $38.02. The stock had a trading volume of 256,325 shares. Calfrac Well Services has a 52-week low of $24.80 and a 52-week high of $38.64. The stock has a 50-day moving average of $35.81 and a 200-day moving average of $32.77. The company has a market cap of $1.771 billion and a P/E ratio of 62.21.
Calfrac Well Services Ltd. is a provider of specialized oilfield services in Canada, the United States, Russia, Mexico, Argentina and Colombia, including hydraulic fracturing, coiled tubing, cementing and other well stimulation services.
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