There’s a lot to be optimistic about in the Utilities sector as 2 analysts just weighed in on Western Midstream Partners (WES) and Crescent Point Energy (CPG) with bullish sentiments.
Western Midstream Partners (WES)
Wells Fargo analyst Ned Baramov maintained a Buy rating on Western Midstream Partners today and set a price target of $25.00. The company’s shares closed last Thursday at $21.19, close to its 52-week high of $22.20.
According to TipRanks.com, Baramov has 0 stars on 0-5 stars ranking scale with an average return of -22.5% and a 31.6% success rate. Baramov covers the Industrial Goods sector, focusing on stocks such as Crestwood Equity, Enable Midstream, and Sunoco.
Western Midstream Partners has an analyst consensus of Moderate Buy, with a price target consensus of $23.00, representing a 9.5% upside. In a report released today, Mizuho Securities also maintained a Buy rating on the stock with a $26.00 price target.
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Crescent Point Energy (CPG)
BMO Capital analyst Ray Kwan maintained a Buy rating on Crescent Point Energy today and set a price target of $7.00. The company’s shares closed last Thursday at $3.90.
According to TipRanks.com, Kwan has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -9.5% and a 42.0% success rate. Kwan covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, Headwater Exploration, and Paramount Resources.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Crescent Point Energy with a $5.71 average price target, implying a 39.3% upside from current levels. In a report released yesterday, CIBC also reiterated a Buy rating on the stock with a C$7.00 price target.
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