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Raymond James Thinks Crew Energy’s Stock is Going to Recover


Crew Energy (TSX: CR), the Materials sector company, was revisited by a Wall Street analyst today. The company received a Buy rating from Raymond James’ analyst Kurt Molnar, with a C$3.15 price target.

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

Crew Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$3.09, which is an 83.9% upside from current levels. In a report issued on October 3, BMO Capital also upgraded the stock to Buy with a C$3.25 price target.

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Based on Crew Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$9.18 million. In comparison, last year the company had a net profit of C$2.13 million.

Crew Energy, Inc. engages in the business of exploring, developing, producing and acquiring crude oil and natural gas in western Canada. It has access to diversified markets with operated infrastructure and increasing liquids production. The firm primarily focused in the Montney resource situated in northeast British Columbia.

The company’s shares closed on Friday at C$1.68, close to its 52-week low of C$1.37.