There’s a lot to be optimistic about in the Services sector as 2 analysts just weighed in on Torchlight Energy Resources (NASDAQ:TRCH) and Scorpio Bulkers (NYSE:SALT) with bullish sentiments.
Torchlight Energy Resources (TRCH)
Noble Financial analyst Mark Reichman maintained a Buy rating on Torchlight Energy Resources on October 23. The company’s shares closed yesterday at $0.78, close to its 52-week low of $0.73.
According to TipRanks.com, Reichman is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -14.5% and a 6.3% success rate. Reichman covers the Basic Materials sector, focusing on stocks such as Endeavour Silver Corp, Great Panther Silver, and Avino Silver & Gold.
Torchlight Energy Resources has an analyst consensus of Moderate Buy.
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Scorpio Bulkers (SALT)
Noble Financial analyst Poe Fratt maintained a Buy rating on Scorpio Bulkers on October 23. The company’s shares closed yesterday at $5.91, close to its 52-week low of $5.91.
According to TipRanks.com, Fratt is ranked #1172 out of 4887 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Scorpio Bulkers with a $10.20 average price target, representing a 72.6% upside. In a report issued on October 22, Jefferies also maintained a Buy rating on the stock with a $10 price target.
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