Desjardins Believes Gibson Energy (GEI) Won’t Stop Here


The Materials sector company, Gibson Energy (TSX: GEI), has received a rating update from a Wall Street analyst yesterday. Desjardins’ analyst Justin Bouchard reiterates their Buy rating on the shares, with a C$22 price target.

Bouchard has an average return of 10.4% when recommending Gibson Energy.

According to TipRanks.com, Bouchard is ranked #4062 out of 4850 analysts.

Read also: Crude Oil: Sell Now, Buy Later

Currently, the analyst consensus on Gibson Energy is a Moderate Buy with an average price target of C$20.50, representing a 4.6% upside. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a C$20 price target.

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Gibson Energy’s market cap is currently C$2.82B and has a P/E ratio of 0. The company has a Price to Book ratio of 3.27.

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 Thursday at C$19.60, close to its 52-week high of C$19.66.

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