Bonterra Energy Gets a Hold Rating from Scotiabank

By Carrie Williams

Wall Street analyst has provided a rating update for the Materials sector company yesterday, while remaining neutral on the stock. Bonterra Energy (TSX: BNE) received a Hold rating from Scotiabank’s analyst Patrick Bryden, with a C$22 price target.

According to TipRanks.com, Bryden is ranked 0 out of 5 stars with an average return of -13.2% and a 28.9% success rate. Bryden covers the Basic Materials sector, focusing on stocks such as Pengrowth Energy Corp, Baytex Energy Corp, and Enerplus Corp.

Currently, the analyst consensus on Bonterra Energy is Moderate Buy and the average price target is C$24.86, representing a 47.4% upside.

In a report issued on June 20, CIBC also reiterated a Hold rating on the stock with a C$17.50 price target.

The company has a one year high of C$29.76 and a one year low of C$14.53. Currently, Bonterra Energy has an average volume of 133.1K.

The company’s shares closed on Friday at $16.86, close to its 52-week high of $29.76.