Credit Suisse’s Analyst Provides Guidance for This Canadian Energy Stock
In a report released yesterday, Manav Gupta from Credit Suisse maintained a Hold rating on Baytex Energy (BTE), with a price target of C$0.60. The company’s shares closed last Friday at $0.30, close to its 52-week low of $0.19.
According to TipRanks.com, Gupta is a 1-star analyst with an average return of -8.2% and a 51.1% success rate. Gupta covers the Utilities sector, focusing on stocks such as Paramount Resources, Marathon Petroleum, and Delek US Holdings.
Currently, the analyst consensus on Baytex Energy is a Hold with an average price target of $0.41, representing a 36.2% upside. In a report issued on May 8, Canaccord Genuity also maintained a Hold rating on the stock with a C$0.50 price target.
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Based on Baytex Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $337 million and GAAP net loss of $2.5 billion. In comparison, last year the company earned revenue of $453 million and had a net profit of $11.34 million.
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Baytex Energy Corp. is an oil and gas exploration & production company, which engages in the acquisition, development and production of crude oil and natural gas. The company was founded on October 22, 2010 and is headquartered in Calgary, Canada.