In a new note to investors yesterday, an analyst has provided a rating update for Calfrac Well Services (CFW). The company received a Buy rating from CIBC’s analyst Jon Morrison, with a C$3.75 price target.
According to TipRanks.com, Morrison ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -17.3% and a 34.1% success rate. Morrison covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Imperial Oil Limited, and Cenovus Energy Inc.
Currently, the analyst consensus on Calfrac Well Services is a Moderate Buy with an average price target of C$3.90, a 36.4% upside from current levels. In a report issued on January 18, Raymond James also upgraded the stock to Buy.
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Calfrac Well Services’ market cap is currently C$405.9M and has a P/E ratio of 16.9. The company has a Price to Book ratio of 0.78.
Calfrac Well Services Ltd. engages in the provision of specialized oilfield services. It operates through the following segments: Canada, the United States, Russia, Latin America, and Corporate.
The company’s shares closed on Friday at C$2.86, close to its 52-week low of C$2.03.
