NuVista Energy (NVA) Receives a Buy from Raymond James


In a latest note to investors, a research analyst has provided a rating update for the NuVista Energy (NVA). Raymond James’ analyst Kurt Molnar reiterates their Buy rating on the shares, with a C$7 price target.

According to TipRanks.com, Molnar has 0 stars on 0-5 star ranking scale with an average return of -22.2% and a 15.9% success rate. Molnar covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Birchcliff Energy Ltd, and Bonterra Energy Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for NuVista Energy with a C$7.63 average price target, representing a 100.3% upside. In a report released yesterday, Canaccord Genuity also reiterated a Buy rating on the stock with a C$5.50 price target.

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NuVista Energy’s market cap is currently C$833.6M and has a P/E ratio of 5.1. The company has a Price to Book ratio of 0.59.

NuVista Energy Ltd. engages in the exploration, development, and production of oil and natural gas reserves. The firm focuses on the scalable and repeatable condensate-rich Montney formation in the Alberta Deep Basin. The company was founded on April 7, 2003 and is headquartered in Calgary, Canada.

The company’s shares closed on Wednesday at C$3.81, close to its 52-week low of C$3.38.

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