CIBC Sticks to Their Buy Rating for Crew Energy

By Ryan Adsit

Crew Energy (TSX: CR), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst David Popowich from CIBC reiterated a Buy rating, with a C$5 price target.

According to TipRanks.com, Popowich is ranked #3245 out of 4573 analysts.

Currently, the analyst consensus on Crew Energy is Strong Buy and the average price target is C$7.31, representing an 113.4% upside.

In a report issued on June 13, AltaCorp Captial also reiterated a Buy rating on the stock with a C$7.75 price target.

Based on Crew Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$52.74 million and quarterly net profit of C$8.06 million. In comparison, last year the company earned revenue of C$34.44 million and had a GAAP net loss of C$6.8 million.

Crew Energy, Inc. engages in the business of exploring, developing, producing and acquiring crude oil and natural gas in western Canada. Its activities are primarily focused in the vast Montney resource situated in northeast British Columbia. The company was founded on May 12, 2003 and is headquartered in Alberta, Canada.

The company’s shares closed last Tuesday at $3.43.