Tamarack Valley Energy (TNEYF) Receives a Buy from RBC Capital

RBC Capital analyst Luke Davis maintained a Buy rating on Tamarack Valley Energy (TNEYF) on January 11 and set a price target of C$1.75. The company’s shares closed last Tuesday at $1.12.

According to TipRanks.com, Davis is a 4-star analyst with an average return of 20.4% and a 58.1% success rate. Davis covers the Utilities sector, focusing on stocks such as PrairieSky Royalty, Whitecap Resources, and Athabasca Oil.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tamarack Valley Energy with a $1.43 average price target, implying a 27.4% upside from current levels. In a report issued on December 28, Canaccord Genuity also maintained a Buy rating on the stock with a C$1.75 price target.

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The company has a one-year high of $1.58 and a one-year low of $0.30. Currently, Tamarack Valley Energy has an average volume of 21.04K.

Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TNEYF in relation to earlier this year.

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Tamarack Valley Energy Ltd is engaged in the exploration, development, and production of oil and natural gas. Its target is drilling and acquisition of repeatable and predictable long-life resource plays in the Western Canadian Sedimentary Basin. Its oil & gas properties include Cardium Oil, Viking Oil, and Penny Barons Oil.

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