GMP FirstEnergy Thinks Trican Well Service’s Stock is Going to Recover

By Ryan Adsit

The Materials sector company, Trican Well Service (TSX: TCW), has received a rating update from a Wall Street analyst today. GMP FirstEnergy’s analyst Ian Gillies reiterates their Buy rating on the shares, with a C$5 price target.

According to TipRanks.com, Gillies is ranked #4438 out of 4766 analysts.

Currently, the analyst consensus on Trican Well Service is Strong Buy and the average price target is C$5.05, representing a 58.6% upside.

In a report released today, Canaccord Genuity also reiterated a Buy rating on the stock with a C$4.75 price target.

The company has a one-year high of C$5.34 and a one-year low of C$2.77. Currently, Trican Well Service has an average volume of 3.31M.

Trican Well Service Ltd. engages in the provision of products, equipment, and services used during the exploration and development of oil and natural gas reserves. It services include acidizing and production enhancement, carbon dioxide, cementing, coiled tubing, fracturing, geological, completion systems and downhole tool services, nitrogen and industrial services. The company was founded on April 11, 1979 and is headquartered in Calgary, Canada.

The company’s shares closed on Wednesday at C$3.19, close to its 52-week low of C$2.77.