Trican Well Service Ltd. (TCW) Stock Rating Lowered by Raymond James Financial Inc.
Trican Well Service Ltd. (TSE:TCW) was downgraded by equities research analysts at Raymond James Financial Inc. from a “strong-buy” rating to a “market perform” rating in a note issued to investors on Friday, StockTargetPrices.com reports. They currently have a C$3.60 price target on the stock, up from their previous price target of C$3.30. Raymond James Financial Inc.’s target price suggests a potential upside of 9.76% from the company’s previous close.
Several other brokerages also recently issued reports on TCW. Evercore ISI upped their price target on shares of Trican Well Service from C$2.00 to C$3.00 in a report on Wednesday, June 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a C$5.00 price target on shares of Trican Well Service in a report on Tuesday, September 6th. Scotiabank upped their price target on shares of Trican Well Service from C$2.75 to C$3.00 and gave the company an “outperform” rating in a report on Wednesday, June 22nd. Pi Financial downgraded shares of Trican Well Service from a “buy” rating to a “neutral” rating in a research note on Friday. Finally, TD Securities upped their price objective on shares of Trican Well Service from C$2.25 to C$2.75 and gave the company a “speculative buy” rating in a research note on Wednesday, June 22nd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Trican Well Service presently has a consensus rating of “Hold” and a consensus target price of C$2.79.
Trican Well Service (TSE:TCW) traded down 5.79% during trading on Friday, hitting $3.09. 1,537,870 shares of the company’s stock traded hands. Trican Well Service has a 12-month low of $0.34 and a 12-month high of $3.37. The firm’s 50-day moving average price is $2.38 and its 200 day moving average price is $1.98. The stock’s market cap is $596.49 million.
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About Trican Well Service
Trican Well Service Ltd. is a Canada-based oilfield services company. The Company provides an array of specialized products, equipment, services and technology for use in the drilling, completion, stimulation and reworking of oil and gas wells in Canada, the United States, Kazakhstan, Russia and Norway, as well as limited operations in Saudi Arabia and Colombia.
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