Scotiabank Forecasts Strong Price Appreciation for Topaz Energy (TSE:TPZ) Stock

Topaz Energy (TSE:TPZ) had its price objective hoisted by Scotiabank from C$35.00 to C$36.00 in a report issued on Friday,BayStreet.CA reports. Scotiabank’s price objective would suggest a potential upside of 34.23% from the company’s previous close.

A number of other research firms have also weighed in on TPZ. TD Securities lifted their price objective on Topaz Energy from C$28.00 to C$30.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Desjardins lifted their price objective on Topaz Energy from C$30.00 to C$31.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. CIBC lifted their price objective on Topaz Energy from C$30.00 to C$31.00 in a research note on Wednesday, October 23rd. National Bankshares lifted their price target on Topaz Energy from C$32.50 to C$33.50 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Raymond James set a C$34.00 price target on Topaz Energy and gave the company an “outperform” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$31.54.

Topaz Energy Stock Performance

TPZ traded down C$0.20 on Friday, reaching C$26.82. 96,114 shares of the stock were exchanged, compared to its average volume of 381,639. The company’s 50-day moving average price is C$27.59 and its 200 day moving average price is C$26.44. Topaz Energy has a fifty-two week low of C$18.59 and a fifty-two week high of C$29.51. The company has a debt-to-equity ratio of 37.52, a current ratio of 2.12 and a quick ratio of 7.17. The firm has a market capitalization of C$3.89 billion, a PE ratio of 72.49 and a beta of 0.50.

About Topaz Energy

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.