Cathedral Energy Services Upgraded to “Outperform” at Scotiabank (CET)
Cathedral Energy Services (TSE:CET) was upgraded by Scotiabank from a “sector perform” rating to an “outperform” rating in a research note issued on Wednesday. The firm currently has a C$6.00 price target on the stock, up from their previous price target of C$5.25. Scotiabank’s price target suggests a potential upside of 36.67% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at National Bank Financial upgraded shares of Cathedral Energy Services from a “sector perform” rating to an “outperform” rating in a research note on Thursday, July 3rd. Analysts at NBF upgraded shares of Cathedral Energy Services from a “sector perform” rating to an “outperform” rating in a research note on Thursday, July 3rd.
Shares of Cathedral Energy Services (TSE:CET) traded up 7.06% during mid-day trading on Wednesday, hitting $4.70. 74,689 shares of the company’s stock traded hands. Cathedral Energy Services has a 1-year low of $4.03 and a 1-year high of $6.25. The stock has a 50-day moving average of $4.64 and a 200-day moving average of $4.55. The company’s market cap is $170.4 million.
Cathedral Energy Services Ltd. (TSE:CET), formerly Cathedral Energy Services Income Trust, together with its wholly owned subsidiary, Cathedral Energy Services Inc, is engaged in the business of providing selected oilfield services to oil and natural gas companies in western Canada and selected oil and natural gas basins in the United States.
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