Canaccord Genuity Thinks Tamarack Vall Energy’s Stock is Going to Recover

By Jason Carr

Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Analyst Anthony Petrucci from Canaccord Genuity reiterated a Buy rating on Tamarack Vall Energy (TSX: TVE), with a C$4 price target.

According to TipRanks.com, Petrucci is a 3-star analyst with an average return of 1.7% and a 35.6% success rate. Petrucci covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Crescent Point Energy, and Bellatrix Exploration.

Tamarack Vall Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$4.33.

Tamarack Vall Energy’s market cap is currently C$346.6M and has a P/E ratio of 0.

Tamarack Valley Energy Ltd. is an oil and gas company, which is involved in the identification, evaluation and operation of resource plays in the Western Canadian sedimentary basin. Its asset portfolio is focused on Cardium and Viking light oil resource plays in Alberta. The company was founded in August 2009 and is headquartered in Calgary, Canada.

The company’s shares closed last Monday at $2.52, close to its 52-week low of $2.33.