PrairieSky Royalty (PSK) Gets a Buy Rating from CIBC


Today, an analyst has provided a rating update for the Materials sector company, PrairieSky Royalty (TSX: PSK). Analyst Jamie Kubik from CIBC rated PrairieSky Royalty (TSX: PSK) a Buy, setting a C$30 price target.

According to TipRanks.com, Kubik is ranked #4811 out of 4886 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for PrairieSky Royalty with a C$31.30 average price target, which is a 34.3% upside from current levels. In a report issued on September 20, RBC Capital also reiterated a Buy rating on the stock with a C$32 price target.

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The company has a one-year high of C$35.90 and a one-year low of C$22.69. Currently, PrairieSky Royalty has an average volume of 408.2K.

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 Friday at C$23.30, close to its 52-week low of C$22.69.

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