CIBC Believes Tamarack Vall Energy (TSX: TVE) Won’t Stop Here

By Austin Angelo

Tamarack Vall Energy (TSX: TVE), the Materials sector company was revisited yesterday, and remains undervalued for at least one analyst on the street. The company received a Buy rating from CIBC’s analyst David Popowich, with a C$5 price target.

Popowich has an average return of 38.5% when recommending Tamarack Vall Energy.

According to TipRanks.com, Popowich is ranked #1538 out of 4801 analysts.

Currently, the analyst consensus on Tamarack Vall Energy is Strong Buy and the average price target is C$4.50, representing an 8.2% upside.

In a report issued on May 10, Canaccord Genuity also maintained a Buy rating on the stock with a C$5.50 price target.

Tamarack Vall Energy’s market cap is currently C$951.7M and has a P/E ratio of 0. The company has a Price to Book ratio of 1.22.

Tamarack Valley Energy Ltd. engages in the identification, evaluation, and operation of oil and gas resources. Its portfolio includes Cardium Oil, Viking Oil, and Penny Barons Oil projects. The company was founded in August 2009 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$4.16, close to its 52-week high of C$4.20.