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Canaccord Genuity Believes Tamarack Vall Energy (TVE) Won’t Stop Here


Tamarack Vall Energy (TSX: TVE), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Anthony Petrucci from Canaccord Genuity reiterated a Buy rating, with a C$5.50 price target.

Petrucci commented:

“We continue to rate TVE a BUY with a C$5.50 target. Our target is NAV based and maps to a 2019 EV/DACF of 4.5x.”

According to TipRanks.com, Petrucci is ranked #3840 out of 4850 analysts.

Read also: Crude Oil: Sell Now, Buy Later

Currently, the analyst consensus on Tamarack Vall Energy is a Strong Buy with an average price target of C$5.66, which is a 18.4% upside from current levels. In a report issued on July 26, Desjardins also reiterated a Buy rating on the stock with a C$6 price target.

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Tamarack Vall Energy’s market cap is currently C$1.09B and has a P/E ratio of 0. The company has a Price to Book ratio of 1.40.

Tamarack Valley Energy Ltd. engages in the identification, evaluation, and operation of oil and gas resources. Its portfolio includes Cardium Oil, Viking Oil, and Penny Barons Oil projects. The company was founded in August 2009 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$4.78, close to its 52-week high of C$4.94.