Scotiabank Reiterates Sector Perform Rating for Calfrac Well Services (CFW)
Calfrac Well Services (TSE:CFW)‘s stock had its “sector perform” rating reissued by investment analysts at Scotiabank in a research report issued on Thursday. They presently have a C$7.75 target price on the stock. Scotiabank’s price target would suggest a potential upside of 38.39% from the company’s current price.
Several other equities research analysts also recently issued reports on the stock. National Bank Financial increased their price objective on shares of Calfrac Well Services from C$6.50 to C$7.50 and gave the stock an “outperform” rating in a research report on Friday, October 27th. TD Securities increased their price objective on shares of Calfrac Well Services from C$7.00 to C$7.50 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. CIBC increased their price objective on shares of Calfrac Well Services from C$4.50 to C$6.75 in a research report on Friday, October 20th. Canaccord Genuity raised shares of Calfrac Well Services from a “hold” rating to a “speculative buy” rating and increased their price objective for the stock from C$5.50 to C$7.00 in a research report on Friday, October 27th. Finally, Royal Bank Of Canada increased their target price on shares of Calfrac Well Services from C$5.00 to C$6.00 and gave the stock an “outperform” rating in a report on Friday, August 25th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Calfrac Well Services presently has a consensus rating of “Buy” and an average target price of C$6.42.
Shares of Calfrac Well Services (CFW) traded down C$0.40 during mid-day trading on Thursday, hitting C$5.60. 576,539 shares of the stock traded hands, compared to its average volume of 651,243. Calfrac Well Services has a 52 week low of C$2.23 and a 52 week high of C$6.51.
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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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