Gibson Energy (GEI), the Materials sector company, has received a rating update from a Wall Street analyst today. The company received a Buy rating from Canaccord Genuity’s analyst John Bereznicki, with a C$25 price target.
According to TipRanks.com, Bereznicki is a 4-star analyst with an average return of 4.4% and a 46.4% success rate. Bereznicki covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Precision Drilling, and Trinidad Drilling.
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Gibson Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$23.08, implying a 1.7% upside from current levels. In a report issued on October 29, Desjardins also reiterated a Buy rating on the stock with a C$25 price target.
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Based on Gibson Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$36.68 million. In comparison, last year the company had a GAAP net loss of C$7.87 million.
Gibson Energy, Inc. engages in the movement, storage, blending, processing, marketing, and distribution of crude oil, condensate, natural gas liquids, water, oilfield waste, and refined products. It operates through the following segments: Infrastructure, Wholesale, Logistics and Other.
The company’s shares closed on Wednesday at C$22.70, close to its 52-week high of C$23.04.
