Enerplus was Upgraded to a Buy Rating at AltaCorp Captial

By Ryan Adsit

Yesterday, an analyst has provided a rating update for the Materials sector company, Enerplus (TSX: ERF). The company received a Buy rating from AltaCorp Captial’s analyst Patrick O’rourke, with a C$14.50 price target.

According to TipRanks.com, O’rourke is ranked #2064 out of 4583 analysts.

Currently, the analyst consensus on Enerplus is Strong Buy and the average price target is C$15.36, representing a 44.0% upside.

In a report issued on June 8, RBC Capital also reiterated a Buy rating on the stock with a C$14 price target.

The company has a one year high of C$13.55 and a one year low of C$7.43. Currently, Enerplus has an average volume of 1.13M.

Enerplus Corp. engages in the exploration and production of oil and gas. Its oil and gas assets are located in Willston Basin, Macellus, Waterfoolds, and Deep Basin. The company was founded in 1986 and is headquartered in Calgary, Canada.,0BCB9P-E

The company’s shares closed last Friday at $10.67.