Calfrac Well Services Ltd. (CFW) Given New C$5.50 Price Target at Raymond James Financial Inc.
Calfrac Well Services Ltd. (TSE:CFW) had its price objective reduced by research analysts at Raymond James Financial Inc. from C$5.70 to C$5.50 in a research report issued to clients and investors on Friday. Raymond James Financial Inc.’s price target would suggest a potential upside of 58.96% from the stock’s previous close.
CFW has been the topic of several other reports. Pi Financial upped their target price on Calfrac Well Services from C$1.75 to C$4.15 and gave the stock a “neutral” rating in a research report on Monday, June 13th. FirstEnergy Capital upped their target price on Calfrac Well Services from C$1.75 to C$4.00 in a research report on Monday, June 13th. Scotiabank reaffirmed an “underperform” rating and issued a C$3.00 target price on shares of Calfrac Well Services in a research report on Friday, July 29th. TD Securities dropped their target price on Calfrac Well Services from C$3.75 to C$2.75 and set a “hold” rating on the stock in a research report on Friday, July 29th. Finally, National Bank Financial raised Calfrac Well Services from a “sector perform market weight” rating to an “outperfrom under weight” rating in a research report on Monday, July 4th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of C$3.64.
Calfrac Well Services (TSE:CFW) traded down 3.47% during midday trading on Friday, reaching $3.34. The company’s stock had a trading volume of 843,625 shares. The firm’s market capitalization is $386.03 million. Calfrac Well Services has a 52 week low of $1.06 and a 52 week high of $4.17. The stock has a 50 day moving average of $2.99 and a 200 day moving average of $2.63.
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About Calfrac Well Services
Calfrac Well Services Ltd. is a provider of specialized oilfield services. The Company operates through four geographical segments: Canada, the United States, Russia and Latin America. Its services include hydraulic fracturing, coiled tubing, cementing and other well stimulation services. The Canadian segment provides fracturing and coiled tubing services to oil and natural gas exploration and production companies in Alberta, northeast British Columbia, Saskatchewan and southwest Manitoba.
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