There’s a lot to be optimistic about in the Utilities sector as 2 analysts just weighed in on Matador Resources (MTDR) and Whitecap Resources (SPGYF) with bullish sentiments.
Matador Resources (MTDR)
In a report issued on May 24, Scott Hanold from RBC Capital maintained a Buy rating on Matador Resources, with a price target of $30.00. The company’s shares closed last Tuesday at $28.84, close to its 52-week high of $31.08.
According to TipRanks.com, Hanold is a 3-star analyst with an average return of 2.6% and a 44.2% success rate. Hanold covers the Utilities sector, focusing on stocks such as Centennial Resource Development, Continental Resources, and Northern Oil And Gas.
Matador Resources has an analyst consensus of Strong Buy, with a price target consensus of $35.38, representing a 19.0% upside. In a report issued on May 11, Northland Securities also initiated coverage with a Buy rating on the stock with a $32.00 price target.
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Whitecap Resources (SPGYF)
RBC Capital analyst Luke Davis maintained a Buy rating on Whitecap Resources yesterday and set a price target of C$7.50. The company’s shares closed last Tuesday at $4.52.
According to TipRanks.com, Davis is a 5-star analyst with an average return of 38.4% and a 62.8% success rate. Davis covers the Utilities sector, focusing on stocks such as Tamarack Valley Energy, PrairieSky Royalty, and Athabasca Oil.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Whitecap Resources with a $6.56 average price target, which is a 40.2% upside from current levels. In a report issued on May 18, BMO Capital also maintained a Buy rating on the stock with a $8.00 price target.
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