Birchcliff Energy Ltd. (BIR) Given New C$12.00 Price Target at RBC Capital Markets
Birchcliff Energy Ltd. (TSE:BIR) had its target price increased by equities researchers at RBC Capital Markets from C$11.00 to C$12.00 in a research note issued to investors on Thursday. RBC Capital Markets’ target price would indicate a potential upside of 27.66% from the company’s current price.
Several other brokerages have also recently weighed in on BIR. Scotiabank reiterated a “focus stock” rating and issued a C$12.00 target price on shares of Birchcliff Energy in a report on Thursday, August 11th. TD Securities upped their target price on Birchcliff Energy from C$12.00 to C$12.50 and gave the stock a “buy” rating in a report on Thursday, August 11th. Raymond James Financial Inc. upped their target price on Birchcliff Energy from C$10.50 to C$11.00 and gave the stock an “outperform” rating in a report on Thursday, August 11th. Royal Bank Of Canada lowered their target price on Birchcliff Energy from C$11.00 to C$9.00 in a report on Friday, August 12th. Finally, Canaccord Genuity upped their target price on Birchcliff Energy from C$11.50 to C$12.00 in a report on Monday, July 25th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of C$10.05.
Birchcliff Energy (TSE:BIR) traded up 2.62% during midday trading on Thursday, reaching $9.40. The company had a trading volume of 1,328,793 shares. The company’s market capitalization is $2.47 billion. The firm has a 50-day moving average of $8.96 and a 200 day moving average of $7.15. Birchcliff Energy has a 1-year low of $2.85 and a 1-year high of $9.89.
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About Birchcliff Energy
Birchcliff Energy Ltd. is an intermediate oil and natural gas company. The Company is engaged in the exploration for and the development, production and acquisition of petroleum and natural gas reserves in Western Canada. Its operations are concentrated within core area, the Peace River Arch, which is centered over 90 kilometers northwest of Grande Prairie, Alberta, adjacent to the Alberta/British Columbia border.
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