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Trican Well Service (TCW) was Downgraded to a Hold Rating at TD Securities


Trican Well Service (TCW) has received a rating update from a Wall Street analyst today. The company received a Hold rating from TD Securities’ analyst Aaron Macneil, with a C$2 price target.

According to TipRanks.com, Macneil is ranked #4805 out of 4912 analysts.

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Currently, the analyst consensus on Trican Well Service is a Moderate Buy with an average price target of C$2.71, implying a 78.3% upside from current levels. In a report issued on November 2, Scotiabank also reiterated a Hold rating on the stock with a C$3 price target.

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Based on Trican Well Service’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$34.19 million. In comparison, last year the company had a net profit of C$46.94 million.

Trican Well Service Ltd. engages in the provision of products, equipment, and services used during the exploration and development of oil and natural gas reserves. It services include acidizing and production enhancement, carbon dioxide, cementing, coiled tubing, fracturing, geological, completion systems and downhole tool services, nitrogen and industrial services. The company was founded on April 11, 1979 and is headquartered in Calgary, Canada.

The company’s shares closed on Friday at C$1.52.