The Materials sector company, PrairieSky Royalty (TSX: PSK), has received a rating update from a Wall Street analyst today. The company received a Buy rating from Canaccord Genuity’s analyst Dennis Fong, with a C$26 price target.
According to TipRanks.com, Fong is a 4-star analyst with an average return of 4.4% and a 44.2% success rate. Fong covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.
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The word on The Street in general, suggests a Strong Buy analyst consensus rating for PrairieSky Royalty with a C$30.70 average price target, representing a 40.7% upside. In a report issued on October 5, CIBC also maintained a Buy rating on the stock with a C$30 price target.
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The company has a one-year high of C$35.90 and a one-year low of C$21.01. Currently, PrairieSky Royalty has an average volume of 418.3K.
PrairieSky Royalty Ltd. engages in the acquisition and management of royalty lands, in order to generate significant free cash flow through indirect third-party oil and gas investments. It offers its owned portfolio of royalty lands in Canada. The company was founded on November 27, 2013 and is headquartered in Calgary, Canada.
The company’s shares closed on Tuesday at C$21.82, close to its 52-week low of C$21.01.
