Scotiabank Thinks Seven Generations A’s Stock is Going to Recover

By Austin Angelo

Seven Generations A (TSX: VII), the Materials sector company, has received a rating update from a Wall Street analyst yesterday. Analyst Jason Bouvier from Scotiabank remains bullish on the stock and has a C$35 price target.

According to TipRanks.com, Bouvier is ranked #4109 out of 4596 analysts.

Currently, the analyst consensus on Seven Generations A is Strong Buy and the average price target is C$34.81, representing a 58.7% upside.

In a report issued on June 12, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$33.50 price target.

Based on Seven Generations A’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$473 million and quarterly net profit of C$216 million. In comparison, last year the company earned revenue of C$175 million and had a net profit of C$138 million.

Seven Generations Energy Ltd. is an independent energy company. It engages in the development and exploration of oil and gas resources. The company is focused on developing non-conventional resource plays including shale gas, tight gas, tight oil, and oil sands in Canada and the United States.

The company’s shares closed on Monday at $21.93, close to its 52-week high of $32.90.