Canaccord Genuity Remains a Hold on Trican Well Service (TOLWF)


In a report issued on March 23, John Bereznicki from Canaccord Genuity maintained a Hold rating on Trican Well Service (TOLWF), with a price target of C$0.60. The company’s shares closed last Monday at $0.30, close to its 52-week low of $0.28.

According to TipRanks.com, Bereznicki is ranked 0 out of 5 stars with an average return of -13.2% and a 36.3% success rate. Bereznicki covers the Basic Materials sector, focusing on stocks such as Essential Energy Services, Precision Drilling, and Gibson Energy.

The word on The Street in general, suggests a Hold analyst consensus rating for Trican Well Service with a $0.71 average price target, a 133.6% upside from current levels. In a report issued on March 11, Tudor Pickering also downgraded the stock to Hold.

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Based on Trican Well Service’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $144 million and GAAP net loss of $20.85 million. In comparison, last year the company earned revenue of $132 million and had a GAAP net loss of $159 million.

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Trican Well Service Ltd. engages in the provision of products, equipment, services, and technology used in drilling, completion, stimulation, and reworking of oil and gas wells primarily through its continuing pressure pumping operations in Canada. The company was founded on April 11, 1979 and is headquartered in Calgary, Canada.

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