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TransGlobe Energy Receives a Buy from RBC Capital


The Materials sector company, TransGlobe Energy (TSX: TGL), has received a rating update from a Wall Street analyst on July 9. The company received a Buy on July 9 from RBC Capital’s analyst Al Stanton, with a C$4.30 price target.

According to TipRanks.com, Stanton is ranked #318 out of 4842 analysts.

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Currently, the analyst consensus on TransGlobe Energy is a Moderate Buy with an average price target of C$5, representing a -6.0% downside. In a report issued on July 10, Canaccord Genuity also reiterated a Buy rating on the stock with a C$6 price target.

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The company has a one-year high of C$5.45 and a one-year low of C$1.30. Currently, TransGlobe Energy has an average volume of 145.9K.

TransGlobe Energy Corp. engages in exploration, development, production, and acquisition of properties. It operates through the following segments: Egypt, Canada, and Corporate.

The company’s shares closed on Friday at C$5.32, close to its 52-week high of C$5.45.