Calfrac Well Services (CFW) Price Target Raised to C$10.00

Calfrac Well Services (TSE:CFW) had its price objective boosted by stock analysts at Raymond James Financial from C$8.50 to C$10.00 in a research report issued on Tuesday. The firm currently has an “outperform” rating on the stock. Raymond James Financial’s price target points to a potential upside of 55.76% from the company’s current price.

CFW has been the subject of several other research reports. Scotiabank downgraded shares of Calfrac Well Services from an “outperform” rating to a “sector perform” rating and set a C$7.75 price objective for the company. in a report on Thursday, November 16th. Canaccord Genuity boosted their price target on shares of Calfrac Well Services from C$8.00 to C$8.50 in a research report on Tuesday, February 6th. CIBC boosted their price target on shares of Calfrac Well Services from C$4.50 to C$6.75 in a research report on Friday, October 20th. TD Securities boosted their price target 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. Finally, National Bank Financial boosted their price target 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of C$7.53.

Calfrac Well Services (CFW) traded up C$0.17 during mid-day trading on Tuesday, reaching C$6.42. 312,225 shares of the company traded hands, compared to its average volume of 442,021. The firm has a market capitalization of $859.63, a P/E ratio of -8.74 and a beta of 1.71. Calfrac Well Services has a 1-year low of C$2.23 and a 1-year high of C$7.49.

In other Calfrac Well Services news, Director Douglas Robert Ramsay sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, November 23rd. The stock was sold at an average price of C$6.07, for a total transaction of C$6,070,000.00. Also, insider Dan Wilks acquired 566,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were bought at an average price of C$5.78 per share, for a total transaction of C$3,271,480.00. In the last 90 days, insiders have acquired 990,500 shares of company stock worth $5,809,345.

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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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