Analysts have been quite happy with STEP Energy Services Ltd (STEP) stock lately, as after Scotiabank and Raymond James rated the stock a Buy this past month, there is another positive note, this time from CIBC. The company received a Buy today from analyst Jon Morrison, with a C$5 price target.
According to TipRanks.com, Morrison has currently no stars on a ranking scale of 0-5 stars, with an average return of -15.9% and a 35.3% success rate. Morrison covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Imperial Oil Limited, and Cenovus Energy Inc.
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The word on The Street in general, suggests a Strong Buy analyst consensus rating for STEP Energy Services Ltd with a C$4.38 average price target, representing a 147.5% upside. In a report issued on March 7, Raymond James also maintained a Buy rating on the stock with a C$6 price target.
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STEP Energy Services Ltd’s market cap is currently C$117.2M and has a P/E ratio of 0. The company has a Price to Book ratio of 0.23.
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 Monday at C$1.77, close to its 52-week low of C$1.65.
