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In a new note to investors yesterday, an analyst has provided a rating update for the NA sector company, Source Energy Services Ltd (TSX: SHLE). Analyst John Bereznicki from Canaccord Genuity remains bullish on the stock and has a C$9.50 price target.
Bereznicki wrote:
“We recently hosted Source for a series of non-deal institutional client meetings. We believe easing rail constraints, a growing contract book, and capacity additions leave Source well positioned for improved financial performance in 2H18. We also believe the company’s share price weakness is overdone, which provides a buying opportunity for the patient value investor. Source remains our favourite small-cap oilfield beta play on the prospective development of west coast LNG given its strong incumbent market position and ability to scale-up capacity efficiently. We reiterate our BUY recommendation and C$9.50 target price.”
According to TipRanks.com, Bereznicki is ranked #929 out of 4828 analysts.
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Source Energy Services Ltd has an analyst consensus of Strong Buy, with a price target consensus of C$8.83.
The company has a one-year high of C$9.88 and a one-year low of C$4.40. Currently, Source Energy Services Ltd has an average volume of 114.4K.
Source Energy Services Ltd. engages in the production, supply, and distribution of northern white frac sand. Its services include proppants, logistics, terminals, storage and transfer of chemicals, and field solutions. The company was founded on February 7, 2017 and is headquartered in Calgary, Canada.
The company’s shares closed on Friday at C$5.18, close to its 52-week low of C$4.40.
