STEP Energy Services Ltd (STEP) Gets a Buy Rating from CIBC

STEP Energy Services Ltd (STEP) has received a rating update from a Wall Street analyst today. Analyst Jon Morrison from CIBC reiterated a Buy rating, with a C$10 price target.

According to, Morrison is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -15.5% and a 32.4% 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$6.19.

STEP Energy Services Ltd’s market cap is currently C$221.8M and has a P/E ratio of 3.5. The company has a Price to Book ratio of 0.44.

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$2.85.