Canaccord Genuity Believes Razor Energy Corp (TSXV: RZE) Won’t Stop Here

By Carrie Williams

Wall Street analyst has provided a review for the NA company today, but retained the same rating on the stock. Analyst Sam Roach from Canaccord Genuity reiterated a Buy rating on Razor Energy Corp (TSXV: RZE), with a C$3.25 price target.

Roach said:

“We hosted Doug Bailey (CEO) and Frank Muller (COO) for a day of non-deal institutional investor meetings. Razor has successfully executed the first phase of its business plan, consolidating assets at Kaybob, reactivating production, and reducing cash costs. Now, with a stable underlying business, Razor will take a pragmatic approach to add inventory and size, seek accretive A&D/M&A opportunities, and improve trading liquidity.”

Roach has an average return of 59.0% when recommending Razor Energy Corp.

According to TipRanks.com, Roach is ranked #545 out of 4830 analysts.

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Razor Energy Corp has an analyst consensus of Moderate Buy, with a price target consensus of C$3.25.

The company has a one-year high of C$2.99 and a one-year low of C$1.25. Currently, Razor Energy Corp has an average volume of 16.3K.

The company’s shares closed on Wednesday at C$2.70, close to its 52-week high of C$2.99.