Canaccord Genuity Boosts Calfrac Well Services (CFW) Price Target to C$8.50

Calfrac Well Services (TSE:CFW) had its price objective increased by equities research analysts at Canaccord Genuity from C$8.00 to C$8.50 in a research report issued to clients and investors on Tuesday. Canaccord Genuity’s price objective indicates a potential upside of 29.18% from the company’s previous close.

Several other equities analysts have also issued reports on the company. National Bank Financial raised their price target on 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 lifted their price objective on 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. Scotiabank reiterated a “sector perform” rating and issued a C$7.75 price objective on shares of Calfrac Well Services in a research report on Thursday, December 7th. CIBC lifted their price objective on Calfrac Well Services from C$4.50 to C$6.75 in a research report on Friday, October 20th. Finally, Royal Bank of Canada lifted their price objective on Calfrac Well Services from C$6.00 to C$7.00 and gave the stock an “outperform” rating in a research report on Thursday, October 12th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Calfrac Well Services presently has an average rating of “Buy” and an average price target of C$7.08.

Calfrac Well Services (TSE CFW) traded up C$0.07 on Tuesday, reaching C$6.58. The company had a trading volume of 250,416 shares, compared to its average volume of 440,544. Calfrac Well Services has a fifty-two week low of C$2.23 and a fifty-two week high of C$7.49. The company has a market cap of $935.82, a price-to-earnings ratio of -8.89 and a beta of 1.71.

In other news, Director Ronald Mathison purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were bought at an average cost of C$5.56 per share, for a total transaction of C$5,560,000.00. Also, insider Dan Wilks purchased 423,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were purchased at an average price of C$5.98 per share, for a total transaction of C$2,529,540.00. Insiders have purchased 1,990,500 shares of company stock worth $11,369,345 over the last 90 days.

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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.

Analyst Recommendations for Calfrac Well Services (TSE:CFW)

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