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AltaCorp Captial Thinks Whitecap Resources’ Stock is Going to Recover


In a new note to investors on October 9, an analyst has provided a rating update for the Materials sector company, Whitecap Resources (TSX: WCP). Analyst Thomas Matthews from AltaCorp Captial remains bullish on the stock and has a C$13.25 price target.

Matthews has an average return of 9.7% when recommending Whitecap Resources.

According to TipRanks.com, Matthews is ranked #678 out of 4897 analysts.

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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Whitecap Resources with a C$13.04 average price target, which is a 77.7% upside from current levels. In a report issued on September 26, TD Securities also reiterated a Buy rating on the stock with a C$14 price target.

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Whitecap Resources’ market cap is currently C$3.09B and has a P/E ratio of 0. The company has a Price to Book ratio of 0.94.

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 Thursday at C$7.34, close to its 52-week low of C$7.23.