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Raymond James Keeps Their Buy Rating on Peyto Exploration & Dev (PEY)


Peyto Exploration & Dev (TSX: PEY), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Kurt Molnar from Raymond James remains bullish on the stock and has a C$15.75 price target.

According to TipRanks.com, Molnar is ranked #4595 out of 4886 analysts.

Peyto Exploration & Dev has an analyst consensus of Moderate Buy, with a price target consensus of C$14.04, implying a 18.2% upside from current levels. In a report issued on September 20, RBC Capital also reiterated a Buy rating on the stock with a C$12 price target.

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Based on Peyto Exploration & Dev’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$30.4 million. In comparison, last year the company had a net profit of C$44.82 million.

Peyto Exploration & Development Corp. operates as an energy company. It engages in the acquisition, exploration, development, and production of oil and natural gas. Its portfolio includes exploration, exploitation and development opportunities located in the Deep Basin of Alberta.

The company’s shares closed on Friday at C$11.88.