Touchstone Exploration’s (TXP) “Speculative Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their speculative buy rating on shares of Touchstone Exploration (LON:TXP) in a report released on Thursday morning, Marketbeat reports. Canaccord Genuity Group currently has a GBX 60 ($0.78) target price on the stock.

A number of other equities analysts have also recently issued reports on the stock. Shore Capital restated a “house stock” rating on shares of Touchstone Exploration in a research report on Tuesday, January 28th. Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 60 ($0.78) price objective on shares of Touchstone Exploration in a research report on Friday, December 13th.

Touchstone Exploration Stock Up 1.1 %

Shares of TXP stock opened at GBX 22 ($0.28) on Thursday. The company has a 50 day moving average of GBX 24.57 and a 200-day moving average of GBX 28.43. Touchstone Exploration has a 12-month low of GBX 20.63 ($0.27) and a 12-month high of GBX 54 ($0.70). The firm has a market cap of £64.78 million, a P/E ratio of -7.36 and a beta of 0.70.

Touchstone Exploration Company Profile

Touchstone Exploration Inc is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. It is one of the largest independent onshore oil producers in Trinidad, with an experienced management and executive team that have a track record of delivering value to shareholders.

The Company’s strategy is to leverage the Board’s extensive oil recovery experience and capability to develop international onshore properties that create shareholder value.

In Trinidad, the Company’s interests in approximately 90,000 gross acres of exploration and development rights make it one of the largest independent onshore oil producers in Trinidad.