Canadian Imperial Bank of Commerce Increases Tamarack Valley Energy (TSE:TVE) Price Target to C$15.25

Tamarack Valley Energy (TSE:TVE) had its price objective hoisted by Canadian Imperial Bank of Commerce from C$14.25 to C$15.25 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an “outperformer” rating on the stock. Canadian Imperial Bank of Commerce’s price objective would suggest a potential upside of 21.71% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on TVE. Canaccord Genuity Group raised shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from C$12.00 to C$15.00 in a research report on Friday. National Bank Financial lifted their price objective on shares of Tamarack Valley Energy from C$10.00 to C$11.50 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Roth Mkm set a C$15.00 price objective on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research note on Tuesday, May 19th. Royal Bank Of Canada lifted their price objective on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Finally, ATB Cormark Capital Markets lifted their price objective on shares of Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Tamarack Valley Energy has a consensus rating of “Buy” and an average target price of C$12.73.

Tamarack Valley Energy Stock Performance

TVE traded down C$0.37 on Friday, reaching C$12.53. The company had a trading volume of 1,091,828 shares, compared to its average volume of 2,187,481. Tamarack Valley Energy has a 1 year low of C$4.35 and a 1 year high of C$13.97. The stock has a market capitalization of C$5.99 billion, a PE ratio of -69.61 and a beta of 0.46. The company has a quick ratio of 0.80, a current ratio of 0.69 and a debt-to-equity ratio of 37.62. The stock has a 50-day moving average price of C$11.86 and a 200-day moving average price of C$9.75.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$0.20 earnings per share for the quarter. Tamarack Valley Energy had a negative net margin of 6.60% and a negative return on equity of 5.03%. The firm had revenue of C$375.55 million during the quarter. As a group, research analysts forecast that Tamarack Valley Energy will post 0.1386527 EPS for the current fiscal year.

About Tamarack Valley Energy

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.