Bonavista Energy (TSE:BNP) had its price objective lowered by CIBC from C$3.00 to C$2.50 in a note issued to investors on Tuesday. CIBC’s price objective would indicate a potential upside of 23.15% from the company’s previous close.
Several other brokerages have also weighed in on BNP. Raymond James Financial cut their target price on Bonavista Energy from C$2.75 to C$2.25 and set a “market perform” rating on the stock in a research report on Friday, November 3rd. National Bank Financial raised their target price on Bonavista Energy from C$3.00 to C$3.50 and gave the stock a “sector perform” rating in a research report on Friday, November 3rd. AltaCorp Capital lowered Bonavista Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 6th. Barclays cut their target price on Bonavista Energy from C$3.50 to C$3.00 in a research report on Monday, October 30th. Finally, Scotiabank lowered Bonavista Energy from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$4.00 to C$3.50 in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of C$3.03.
Shares of Bonavista Energy (BNP) traded up C$0.19 during midday trading on Tuesday, hitting C$2.03. The stock had a trading volume of 1,426,185 shares, compared to its average volume of 1,042,649. Bonavista Energy has a 1-year low of C$1.77 and a 1-year high of C$5.22. The firm has a market cap of $536.90, a price-to-earnings ratio of 4.51 and a beta of 1.12.
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About Bonavista Energy
Bonavista Energy Corporation is a resource company engaged in the acquisition, exploration, development and production of oil and natural gas assets. The Company’s West Central Core Area is characterized by natural gas and light oil resources. West Central Core Area is located within the Western Canadian Sedimentary Basin (WCSB) between Calgary and Drayton Valley, Alberta.
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