CIBC Trims Calfrac Well Services Ltd (CFW) Target Price to C$4.00
Calfrac Well Services Ltd (TSE:CFW) had its price target reduced by investment analysts at CIBC from C$5.75 to C$4.00 in a research report issued to clients and investors on Thursday. CIBC’s price objective suggests a potential upside of 28.62% from the company’s previous close.
Several other analysts have also recently weighed in on the stock. Scotiabank reiterated a “sector perform” rating and issued a C$5.00 price objective on shares of Calfrac Well Services in a research note on Thursday, April 27th. Canaccord Genuity dropped their price objective on shares of Calfrac Well Services from C$4.00 to C$3.00 in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Calfrac Well Services has an average rating of “Hold” and a consensus price target of C$4.73.
Calfrac Well Services (CFW) traded down 1.27% on Thursday, reaching $3.11. 697,283 shares of the company traded hands. The firm’s market cap is $425.34 million. Calfrac Well Services has a 52-week low of $2.23 and a 52-week high of $5.34. The stock has a 50-day moving average price of $2.83 and a 200-day moving average price of $3.65.
About Calfrac Well Services
Calfrac Well Services Ltd. is a provider of specialized oilfield services. The Company operates through four geographical segments: Canada, the United States, Russia and Latin America. Its services include hydraulic fracturing, coiled tubing, cementing and other well stimulation services. The Canadian segment provides fracturing and coiled tubing services to oil and natural gas exploration and production companies in Alberta, northeast British Columbia, Saskatchewan and southwest Manitoba.
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