Raymond James Reaffirms Their Buy Rating on CES Energy Solutions (CESDF)

In a report released yesterday, Andrew Bradford from Raymond James maintained a Buy rating on CES Energy Solutions (CESDF), with a price target of C$1.00. The company’s shares closed last Monday at $0.48, close to its 52-week low of $0.42.

According to TipRanks.com, Bradford has 0 stars on 0-5 star ranking scale with an average return of -37.3% and a 19.8% success rate. Bradford covers the Basic Materials sector, focusing on stocks such as Essential Energy Services, Trican Well Service, and Precision Drilling.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for CES Energy Solutions with a $1.23 average price target, a 163.2% upside from current levels. In a report issued on March 16, BMO Capital also upgraded the stock to Buy with a C$1.75 price target.

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Based on CES Energy Solutions’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $316 million and net profit of $11.91 million. In comparison, last year the company earned revenue of $348 million and had a net profit of $15.47 million.

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CES Energy Solutions Corp. engages in the provision of consumable chemical solutions throughout the life-cycle of the oilfield. Its operations include Drilling Fluids, Production Chemicals, Transportation & Logistics, Environmental Services, and Laboratory Services. The company was founded on November 13, 1986 and is headquartered in Calgary, Canada.

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