GMP FirstEnergy Thinks Tamarack Vall Energy’s Stock is Going to Recover

By Ryan Adsit

Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Analyst Robert Fitzmartyn from GMP FirstEnergy reiterated a Buy rating on Tamarack Vall Energy (TSX: TVE), with a C$4 price target.

According to TipRanks.com, Fitzmartyn is ranked #4503 out of 4588 analysts.

Currently, the analyst consensus on Tamarack Vall Energy is Moderate Buy and the average price target is C$3.71, representing a 64.2% upside.

In a report issued on June 20, CIBC also reiterated a Buy rating on the stock with a C$3 price target.

Based on Tamarack Vall Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$75.64 million and quarterly net profit of C$2.29 million. In comparison, last year the company earned revenue of C$17.84 million and had a GAAP net loss of C$5.83 million.

Tamarack Valley Energy Ltd. is an oil and gas company, which is involved in the identification, evaluation and operation of resource plays in the Western Canadian sedimentary basin. Its asset portfolio is focused on Cardium and Viking light oil resource plays in Alberta. The company was founded in August 2009 and is headquartered in Calgary, Canada.

The company’s shares closed on Tuesday at $2.26, close to its 52-week high of $3.89.