The Materials sector company, Peyto Exploration & Dev (PEY), has received a rating update from a Wall Street analyst today. Canaccord Genuity’s analyst Anthony Petrucci reiterates their Buy rating on the shares, with a C$7 price target.
According to TipRanks.com, Petrucci is ranked 0 out of 5 stars with an average return of -23.7% and a 14.6% success rate. Petrucci covers the Basic Materials sector, focusing on stocks such as Painted Pony Petroleum Ltd, Tamarack Valley Energy Ltd, and Trican Well Service Ltd.
Currently, the analyst consensus on Peyto Exploration & Dev is a Moderate Buy with an average price target of C$6.65, which is a 72.7% upside from current levels. In a report issued on June 28, GMP FirstEnergy also maintained a Buy rating on the stock with a C$6.50 price target.
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The company has a one-year high of C$12.44 and a one-year low of C$3.71. Currently, Peyto Exploration & Dev has an average volume of 868.2K.
Peyto Exploration & Development Corp. operates as an oil and natural gas exploration and development company. Its portfolio of assets includes exploration, exploitation and development opportunities located primarily in the Deep Basin of Alberta. The company was founded by Richard F. Braund and Donald T. Gray in 1998 and is headquartered in Calgary, Canada.
The company’s shares closed on Tuesday at C$3.85, close to its 52-week low of C$3.71.
