TD Securities Boosts Canacol Energy Price Target to C$12.00 (CNE)
Investment analysts at TD Securities increased their price objective on shares of Canacol Energy (TSE:CNE) from C$11.50 to C$12.00 in a note issued to investors on Thursday. TD Securities’ price objective suggests a potential upside of 79.91% from the company’s current price.
Shares of Canacol Energy (TSE:CNE) traded up 2.77% during mid-day trading on Thursday, hitting $6.67. 563,375 shares of the company’s stock traded hands. Canacol Energy has a 1-year low of $3.75 and a 1-year high of $8.77. The stock’s 50-day moving average is $6.75 and its 200-day moving average is $7.12. The company’s market cap is $610.3 million.
A number of other analysts have also recently weighed in on CNE. Analysts at Canaccord Genuity upgraded shares of Canacol Energy to a “focus list” rating in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. Canacol Energy currently has an average rating of “Buy” and an average price target of C$10.23.
Canacol Energy Ltd. (TSE:CNE) and its subsidiaries are primarily engaged in petroleum and natural gas exploration and development activities in Colombia, Brazil, Ecuador and Guyana.
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