Birchcliff Energy (TSE:BIR – Get Free Report) was upgraded by investment analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a C$7.00 price objective on the oil and natural gas company’s stock, up from their prior price objective of C$6.00. Canaccord Genuity Group’s target price suggests a potential upside of 21.95% from the company’s current price.
Several other equities analysts also recently issued reports on the stock. CIBC raised shares of Birchcliff Energy from a “neutral” rating to an “outperform” rating and raised their price target for the company from C$7.00 to C$8.00 in a research note on Thursday. Canaccord Genuity Group lowered their target price on shares of Birchcliff Energy from C$6.00 to C$5.75 in a research note on Friday, November 15th. Scotiabank raised shares of Birchcliff Energy from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 17th. TD Securities raised shares of Birchcliff Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from C$5.50 to C$7.00 in a research note on Thursday, January 30th. Finally, National Bankshares set a C$8.00 price target on shares of Birchcliff Energy and gave the company an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$7.04.
Get Our Latest Stock Analysis on BIR
Birchcliff Energy Stock Performance
Birchcliff Energy Company Profile
Birchcliff Energy Ltd is an intermediate oil and gas company that explores for, develops, and produces natural gas, light oil, and natural gas liquids. The company conducts its drilling program in resource plays located in the Peace River Arch region of Alberta. Birchcliff focuses on operating nearly all its high working production, which is surrounded by blocks of high working interest lands where it owns and/or controls the infrastructure.
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