Canaccord Genuity analyst Charlie Sharp maintained a Buy rating on Transglobe Energy (TGA) today and set a price target of p80.00. The company’s shares closed last Thursday at $0.64.
According to TipRanks.com, Sharp is a 3-star analyst with an average return of 5.4% and a 54.0% success rate. Sharp covers the Utilities sector, focusing on stocks such as Touchstone Exploration, Vaalco Energy, and Genel Energy.
Currently, the analyst consensus on Transglobe Energy is a Moderate Buy with an average price target of $1.05.
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Based on Transglobe Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $16.85 million and GAAP net loss of $5.96 million. In comparison, last year the company earned revenue of $31.2 million and had a net profit of $2.97 million.
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TransGlobe Energy Corp. engages in exploration, development, production, and acquisition of properties. It operates through the following segments: Egypt, Canada, and Corporate. Its activities include the operation of Harmattan; West Gharib, West Bakr, and North West Gharib in Egypt-Eastern Desert; and South Alamein, South Ghazalat, and North West Sitra in Egypt-Western Desert; and oil marketing. The company was founded on August 6, 1968 and is headquartered in Calgary, Canada.
