Rating On Watch: Canacol Energy (TSE:CNE) Had Its Target Raised by Equity Research Analysts at TD Securities to $6.00

November 24, 2016 - By Linda Rogers

Canacol Energy (TSE:CNE) Target Upped

In a note shared with investors and clients by TD Securities on Thursday, 24 November, Canacol Energy (TSE:CNE) had its target price per share raised to $6.00. The firm presently has Buy rating on the stock.

Canacol Energy Ltd (TSE:CNE) Ratings Coverage

Out of 5 analysts covering Canacol Energy (TSE:CNE), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. $6.90 is the highest target while $2.10 is the lowest. The $5.53 average target is 17.16% above today’s ($4.72) stock price. Canacol Energy has been the topic of 15 analyst reports since September 2, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Thursday, September 22 by Scotia Capital. Scotia Capital maintained the stock with “Outperform” rating in Wednesday, August 24 report. The stock of Canacol Energy Ltd (TSE:CNE) has “Buy” rating given on Friday, November 11 by TD Securities. The rating was maintained by Scotia Capital on Tuesday, June 7 with “Outperform”.

It is down 18.89% since April 20, 2016 and is uptrending. It has outperformed by 13.48% the S&P500.

Canacol Energy Ltd. is a Canada-based gas and oil exploration and production company. The company has a market cap of $878.54 million. The Firm is engaged in petroleum and natural gas exploration and development activities in Colombia and Ecuador. It currently has negative earnings. It owns approximately 0.5% interest in Oleoducto Bicentenario de Colombia , which owns a pipeline system that focuses on linking Llanos basin oil production to the Cano Limon oil pipeline system.

More important recent Canacol Energy Ltd (TSE:CNE) news were published by: Marketwired.com which released: “Canacol Energy Ltd. Tests Nispero 1 Exploration Well at 28 MMSCFPD, Expands …” on August 23, 2016, also Bloomberg.com published article titled: “Top Colombia Stock Canacol Energy Nears New Gas Sale Contracts”, Marketwired.com published: “Canacol Energy Ltd. Announces Closing of Private Placement” on August 02, 2016. More interesting news about Canacol Energy Ltd (TSE:CNE) was released by: Marketwired.com and their article: “Canacol Energy Ltd. Tests 26 MMSCFPD (4561 BOEPD) from First of Three Planned …” with publication date: February 24, 2016.

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