The Materials sector company, Tamarack Vall Energy (TVE), has received a rating update from a Wall Street analyst today. Analyst Jeremy Mccrea from Raymond James rated Tamarack Vall Energy (TVE) a Buy, setting a C$4.75 price target.
According to TipRanks.com, Mccrea is ranked 0 out of 5 stars with an average return of -12.6% and a 34.2% 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 Tamarack Vall Energy with a C$4.22 average price target, representing a 51.3% upside. In a report released today, RBC Capital also upgraded the stock to Buy with a C$4 price target.
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Based on Tamarack Vall Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$13 million. In comparison, last year the company had a GAAP net loss of C$12.53 million.
Tamarack Valley Energy Ltd. engages in the identification, evaluation, and operation of oil and gas resources. Its portfolio includes Cardium Oil, Viking Oil, and Penny Barons Oil projects. The company was founded in August 2009 and is headquartered in Calgary, Canada.
The company’s shares closed on Thursday at C$2.79.
