CIBC Trims Crescent Point Energy Corp (CPG) Target Price to C$22.00
Crescent Point Energy Corp (TSE:CPG) had its price target cut by investment analysts at CIBC from C$26.00 to C$22.00 in a research report issued to clients and investors on Wednesday, StockTargetPrices.com reports. CIBC’s target price suggests a potential upside of 33.82% from the stock’s previous close.
A number of other equities analysts have also recently weighed in on CPG. TD Securities cut shares of Crescent Point Energy Corp from an “action list buy” rating to a “buy” rating and decreased their price objective for the company from C$31.00 to C$30.00 in a research report on Friday, August 12th. Royal Bank Of Canada decreased their price objective on shares of Crescent Point Energy Corp from C$25.00 to C$22.00 and set a “sector perform” rating for the company in a research report on Wednesday. AltaCorp Capital upped their price objective on shares of Crescent Point Energy Corp from C$25.00 to C$26.00 in a research report on Friday, August 12th. Desjardins set a C$26.00 price objective on shares of Crescent Point Energy Corp in a research report on Tuesday, June 28th. Finally, Barclays PLC upped their price objective on shares of Crescent Point Energy Corp from C$23.00 to C$28.00 and gave the company an “overweight” rating in a research report on Friday, July 22nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of C$24.88.
Shares of Crescent Point Energy Corp (TSE:CPG) traded up 2.98% during trading on Wednesday, reaching $16.93. The company had a trading volume of 1,272,423 shares. The stock’s market capitalization is $8.60 billion. The stock has a 50 day moving average of $19.78 and a 200 day moving average of $19.99. Crescent Point Energy Corp has a 52-week low of $11.42 and a 52-week high of $24.01.
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About Crescent Point Energy Corp
Crescent Point Energy Corp. (Crescent Point) is a Canada-based oil and gas exploration, development and production company. The Company is an oil and gas producer with assets consisting of light and medium oil and natural gas reserves in Western Canada and the United States. The Company’s primary assets are the shares in Crescent Point Holdings Inc (CPHI), shares in Crescent Point U.S.
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