CIBC Remains a Hold on Cardinal Energy (CJ)

By Austin Angelo

A Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Analyst Jamie Kubik from CIBC reiterated a Hold rating on Cardinal Energy (CJResearch Report), with a C$3.25 price target.

According to TipRanks.com, Kubik has 0 stars on 0-5 star ranking scale with an average return of -17.3% and a 23.7% success rate. Kubik covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.

Cardinal Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$3.87, which is an 80.0% upside from current levels. In a report issued on January 18, Macquarie also downgraded the stock to Hold.

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The company has a one-year high of C$5.89 and a one-year low of C$1.80. Currently, Cardinal Energy has an average volume of 762.6K.

Cardinal Energy Ltd. engages in the exploration, development, and production of oil and natural gas. Its projects include slave lake, wainwright and bantry. The company was founded on December 21, 2010 and is headquartered in Calgary, Canada.

The company’s shares closed on Friday at C$2.15, close to its 52-week low of C$1.80.