The Materials sector company, Baytex Energy (BTE), has received a rating update from a Wall Street analyst today. Raymond James’ analyst Jeremy Mccrea reiterates their Buy rating on the shares, with a C$3.75 price target.
According to TipRanks.com, Mccrea is ranked 0 out of 5 stars with an average return of -14.4% and a 30.8% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Baytex Energy with a C$3.94 average price target, representing a 73.6% upside. In a report released today, Macquarie also upgraded the stock to Buy.
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The company has a one-year high of C$6.23 and a one-year low of C$1.87. Currently, Baytex Energy has an average volume of 4.89M.
Baytex Energy Corp. engages in the acquisition, development, and production of crude oil and natural gas. It operates through the following segments: Canada, United States, and Corporate. The Canada segment explores, develops, and produces crude oil and natural gas in Western Canada.
The company’s shares closed on Thursday at C$2.27, close to its 52-week low of C$1.87.
