AltaCorp Captial Thinks Whitecap Resources’ Stock is Going to Recover


Whitecap Resources (WCP), the Materials sector company, was revisited by a Wall Street analyst today. AltaCorp Captial’s analyst Thomas Matthews reiterates their Buy rating on the shares, with a C$9.75 price target.

According to TipRanks.com, Matthews is a 2-star analyst with an average return of 0.1% and a 38.0% success rate. Matthews covers the Basic Materials sector, focusing on stocks such as Crescent Point Energy, Bellatrix Exploration, and Obsidian Energy Ltd.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Whitecap Resources with a C$9.64 average price target, implying a 100.8% upside from current levels. In a report released yesterday, BMO Capital also reiterated a Buy rating on the stock with a C$7 price target.

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Whitecap Resources’ market cap is currently C$1.97B and has a P/E ratio of 0. The company has a Price to Book ratio of 0.60.

Whitecap Resources, Inc. engages in the acquisition, development, optimization, and production of crude oil and natural gas. Its projects include Boundary Lake, Valhalla North, Elmworth, Wapiti, West and East Pembina, Ferrier, Elnora, Garrington, Kerrobert, Lucky Hills, Fosterton, and Gull Lake.

The company’s shares closed on Tuesday at C$4.80, close to its 52-week low of C$3.80.

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