RBC Capital Thinks Whitecap Resources’ Stock is Going to Recover

By Ryan Adsit

Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Analyst Biraj Borkhataria from RBC Capital reiterated a Buy rating on Whitecap Resources (TSX: WCP), with a C$15 price target.

According to TipRanks.com, Borkhataria is a 1-star analyst with an average return of -1.2% and a 33.3% success rate. Borkhataria covers the Basic Materials sector, focusing on stocks such as Jagged Peak Energy Inc, Continental Resources, and Royal Dutch Shell A.

Currently, the analyst consensus on Whitecap Resources is Strong Buy and the average price target is C$14.34, representing a 50.0% upside.

In a report issued on May 31, Canaccord Genuity also reiterated a Buy rating on the stock with a C$13 price target.

The company has a one year high of C$12.90 and a one year low of C$8.99. Currently, Whitecap Resources has an average volume of 1.37M.

Whitecap Resources, Inc. engages in the acquisition, development, optimization, and production of crude oil and natural gas. It holds interest in Peace River Arch, Deep Basin, Boundary Lake, Southwest Alberta and Pembina, Elnora and West Central Saskatchewan properties. The company was founded on June 3, 2008 and is headquartered in Calgary, Canada.

The company’s shares closed last Thursday at $9.56, close to its 52-week low of $8.99.