Royal Bank Of Canada Increases Painted Pony Petroleum Ltd (PPY) Price Target to C$11.00
Painted Pony Petroleum Ltd (TSE:PPY) had its target price increased by analysts at Royal Bank Of Canada from C$10.00 to C$11.00 in a research report issued on Thursday, StockTargetPrices.com reports. Royal Bank Of Canada’s price target indicates a potential upside of 21.41% from the stock’s previous close.
Several other brokerages have also commented on PPY. FirstEnergy Capital boosted their price objective on Painted Pony Petroleum from C$10.50 to C$12.50 in a report on Thursday, July 21st. RBC Capital Markets boosted their price objective on Painted Pony Petroleum from C$10.00 to C$11.00 in a report on Thursday. National Bank Financial cut their price objective on Painted Pony Petroleum from C$10.00 to C$9.00 in a report on Thursday, August 11th. Scotiabank reissued an “outperform” rating and set a C$9.50 price objective on shares of Painted Pony Petroleum in a report on Thursday, August 11th. Finally, Desjardins boosted their price objective on Painted Pony Petroleum from C$8.75 to C$9.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of C$9.17.
Painted Pony Petroleum (TSE:PPY) traded up 7.47% during trading on Thursday, hitting $9.06. 1,901,569 shares of the company traded hands. The company’s market capitalization is $906.72 million. The stock has a 50 day moving average price of $8.13 and a 200 day moving average price of $7.16. Painted Pony Petroleum has a 12-month low of $2.71 and a 12-month high of $9.13.
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Painted Pony Petroleum Company Profile
Painted Pony Petroleum Ltd. is a natural gas company in Western Canada. The Company’s principal business activity is the exploration, development and production of petroleum and natural gas resources in western Canada. It is focused on the development of natural gas and natural gas liquids from the Montney formation in Northeast British Columbia.
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