STEP Energy Services Ltd (STEP), was revisited by a Wall Street analyst yesterday. The company received a Buy rating from CIBC’s analyst Jon Morrison, with a C$5.50 price target.
According to TipRanks.com, Morrison is ranked 0 out of 5 stars with an average return of -17.3% and a 34.1% success rate. Morrison covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Imperial Oil Limited, and Cenovus Energy Inc.
STEP Energy Services Ltd has an analyst consensus of Moderate Buy, with a price target consensus of C$4.81, implying a 123.7% upside from current levels. In a report issued on January 18, Raymond James also upgraded the stock to Buy with a C$7.75 price target.
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STEP Energy Services Ltd’s market cap is currently C$138.5M and has a P/E ratio of 3.4. The company has a Price to Book ratio of 0.27.
STEP Energy Services Ltd. explores oil and gas products. The company is a privately owned, technically focused, oilfield service company provides coiled tubing units and associated pumping and support equipment to service the horizontal market in Western Canada.
The company’s shares closed on Friday at C$2.15, close to its 52-week low of C$1.65.
