Birchcliff Energy Ltd. (BIR) PT Raised to C$12.00
Birchcliff Energy Ltd. (TSE:BIR) had its target price lifted by equities research analysts at Royal Bank Of Canada from C$11.00 to C$12.00 in a report issued on Thursday, StockTargetPrices.com reports. Royal Bank Of Canada’s target price would suggest a potential upside of 27.66% from the stock’s current price.
Several other brokerages have also issued reports on BIR. CIBC raised their target price on Birchcliff Energy from C$7.00 to C$10.00 in a research report on Thursday, July 14th. Scotiabank reaffirmed a “focus stock” rating and set a C$12.00 target price on shares of Birchcliff Energy in a research report on Thursday, August 11th. Canaccord Genuity raised their target price on Birchcliff Energy from C$11.50 to C$12.00 in a research report on Monday, July 25th. RBC Capital Markets raised their target price on Birchcliff Energy from C$11.00 to C$12.00 in a research report on Thursday. Finally, TD Securities raised their target price on Birchcliff Energy from C$12.00 to C$12.50 and gave the company a “buy” rating in a research report on Thursday, August 11th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of C$10.05.
Birchcliff Energy (TSE:BIR) traded up 2.62% during midday trading on Thursday, reaching $9.40. 1,328,793 shares of the company traded hands. The firm’s market capitalization is $2.47 billion. Birchcliff Energy has a one year low of $2.85 and a one year high of $9.89. The firm has a 50-day moving average price of $8.96 and a 200-day moving average price of $7.15.
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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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