ARC Resources (ARX), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. The company received a Buy rating from GMP FirstEnergy’s analyst Michael Dunn, with a C$14.25 price target.
According to TipRanks.com, Dunn has 0 stars on 0-5 star ranking scale with an average return of -15.9% and a 22.3% success rate. Dunn covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, PrairieSky Royalty Ltd, and Crescent Point Energy.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ARC Resources with a C$14.88 average price target, a 57.8% upside from current levels. In a report released today, Raymond James also maintained a Buy rating on the stock with a C$18.25 price target.
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The company has a one-year high of C$15.90 and a one-year low of C$7.38. Currently, ARC Resources has an average volume of 2.27M.
ARC Resources Ltd. engages in the exploration, development, and production of crude oil and natural gas. Its projects include Montney operations in northeast British Columbia, and the Pembina Cardium in Alberta. The company was founded by John P. Dielwart and Mac H. van Wielingen in 1996 and is headquartered in Calgary, Canada.
The company’s shares closed on Friday at C$9.43.
