Bonavista Energy Receives a Buy from Desjardins

By Jason Carr

In a new note to investors yesterday, an analyst has provided a rating update for the Materials sector company, Bonavista Energy (TSX: BNP). The company received a Buy rating from Desjardins’ analyst Justin Bouchard, with a C$5 price target.

According to TipRanks.com, Bouchard is ranked 0 out of 5 stars with an average return of -8.9% and a 33.0% success rate. Bouchard covers the Basic Materials sector, focusing on stocks such as Athabasca Oil Corporation, Inter Pipeline Ltd, and Gibson Energy Inc.

Bonavista Energy has an analyst consensus of Strong Buy, with a price target consensus of C$5.13.

Bonavista Energy’s market cap is currently C$675.6M and has a P/E ratio of 0.

Bonavista Energy Corp. explores, develops and produces oil and natural gas in Canada. Its major properties are concentrated within three core regions in western Canada. The company’s Western core region operations offer multi-zone oil and liquids rich natural gas resources in close proximity to infrastructure and services, with year round access. Its Northern core region is characterized by a production base with a significant inventory of undeveloped acreage. The company’s Eastern region is characterized by low risk development opportunities offering capital flexibility leading to modest production growth. Bonavista Energy was founded in 1997 and is headquartered in Calgary, Canada.

The company’s shares closed last Monday at $2.65, close to its 52-week low of $2.55.