Raymond James Maintains Their Hold Rating on Tamarack Valley Energy (TNEYF)

By Ryan Adsit

Raymond James analyst Chris Cox maintained a Hold rating on Tamarack Valley Energy (TNEYFResearch Report) yesterday and set a price target of C$1.00. The company’s shares closed last Monday at $0.37, close to its 52-week low of $0.30.

According to TipRanks.com, Cox ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.6% and a 39.7% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Crescent Point Energy, Paramount Resources, and Whitecap Resources.

Currently, the analyst consensus on Tamarack Valley Energy is a Moderate Buy with an average price target of $1.49, implying a 300.6% upside from current levels. In a report issued on March 16, BMO Capital also downgraded the stock to Hold with a C$1.50 price target.

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The company has a one-year high of $2.25 and a one-year low of $0.30. Currently, Tamarack Valley Energy has an average volume of 5,319.

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Tamarack Valley Energy Ltd is engaged in the exploration, development, and production of oil and natural gas. Its target is drilling and acquisition of repeatable and predictable long-life resource plays in the Western Canadian Sedimentary Basin. Its oil & gas properties include Cardium Oil, Viking Oil, and Penny Barons Oil.