Granite Oil Corp (TSE:GXO) had its price objective hoisted by investment analysts at Royal Bank Of Canada from C$9.00 to C$10.00 in a note issued to investors on Thursday, reports. Royal Bank Of Canada’s price objective indicates a potential upside of 72.12% from the company’s previous close.

Several other brokerages also recently weighed in on GXO. RBC Capital Markets cut their price objective on shares of Granite Oil Corp from C$10.00 to C$9.00 in a research report on Thursday. National Bank Financial lifted their price objective on shares of Granite Oil Corp from C$9.50 to C$10.50 in a research report on Wednesday, August 3rd. Raymond James Financial Inc. lifted their price objective on shares of Granite Oil Corp from C$10.00 to C$10.50 in a research report on Friday, June 17th. Finally, TD Securities reiterated a “buy” rating and issued a C$8.50 price objective on shares of Granite Oil Corp in a research report on Monday, June 20th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of C$9.54.

Analyst Recommendations for Granite Oil Corp (TSE:GXO)

Shares of Granite Oil Corp (TSE:GXO) opened at 5.81 on Thursday. The stock has a 50 day moving average of $6.10 and a 200 day moving average of $6.92. The firm’s market capitalization is $195.19 million. Granite Oil Corp has a 52-week low of $5.21 and a 52-week high of $9.39.

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About Granite Oil Corp

Granite Oil Corp., formerly DeeThree Exploration Ltd., is a Canada-based oil producer based in Calgary, Alberta with lands and operations located in southern Alberta. The Company is engaged in the exploration for and exploitation, development and production of oil and natural gas. Its Alberta Bakken Properties are located in southern Alberta, approximately 70 kilometers south of Lethbridge.

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