Desjardins Sticks to Their Buy Rating for Raging River Exploration

By Austin Angelo

The Materials sector company, Raging River Exploration (TSX: RRX), has received a rating update from a Wall Street analyst yesterday. Analyst Justin Bouchard from Desjardins rated Raging River Exploration (TSX: RRX) a Buy, setting a C$11.50 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.

Currently, the analyst consensus on Raging River Exploration is Moderate Buy and the average price target is C$11.71, representing a 43.0% upside.

In a report issued on May 23, TD Securities also reiterated a Buy rating on the stock with a C$11.50 price target.

Raging River Exploration’s market cap is currently C$1.89B and has a P/E ratio of 40.2.

Raging River Exploration, Inc. is a junior oil and gas producer. It engages in crude oil and natural gas exploration and development. The company was founded on December 15, 2011 and is headquartered in Calgary, Canada.

The company’s shares closed last Monday at $8.19.