Analysts have been eager to weigh in on the Utilities sector with new ratings on Imperial Oil (IMO), Tamarack Valley Energy (TNEYF) and Baytex Energy (BTEGF).
Imperial Oil (IMO)
Raymond James analyst Chris Cox maintained a Hold rating on Imperial Oil today and set a price target of C$34.00. The company’s shares closed last Monday at $30.47.
According to TipRanks.com, Cox is ranked 0 out of 5 stars with an average return of -3.3% and a 54.0% success rate. Cox covers the Utilities sector, focusing on stocks such as Crescent Point Energy, Advantage Oil & Gas, and Paramount Resources.
Imperial Oil has an analyst consensus of Hold, with a price target consensus of $29.26, a -0.7% downside from current levels. In a report released today, BMO Capital also maintained a Hold rating on the stock with a C$40.00 price target.
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Tamarack Valley Energy (TNEYF)
In a report released today, Luke Davis from RBC Capital maintained a Buy rating on Tamarack Valley Energy, with a price target of C$3.50. The company’s shares closed last Monday at $2.23.
According to TipRanks.com, Davis is a 5-star analyst with an average return of 36.6% and a 61.5% success rate. Davis covers the Utilities sector, focusing on stocks such as PrairieSky Royalty, Whitecap Resources, and Athabasca Oil.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tamarack Valley Energy with a $2.58 average price target, a 23.1% upside from current levels. In a report released today, National Bank also initiated coverage with a Buy rating on the stock with a C$4.00 price target.
Baytex Energy (BTEGF)
RBC Capital analyst Gregory Pardy maintained a Buy rating on Baytex Energy today and set a price target of C$1.80. The company’s shares closed last Monday at $1.28.
According to TipRanks.com, Pardy is a 4-star analyst with an average return of 7.2% and a 51.1% success rate. Pardy covers the Utilities sector, focusing on stocks such as Canadian Natural, Vermilion Energy, and Cenovus Energy.
Currently, the analyst consensus on Baytex Energy is a Moderate Buy with an average price target of $1.55, implying a 25.0% upside from current levels. In a report issued on April 30, Raymond James also maintained a Buy rating on the stock with a C$2.25 price target.
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