RBC Capital Sticks to Their Buy Rating for Athabasca Oil

By Jason Carr

The Materials sector company, Athabasca Oil (TSX: ATH), has received a rating update from a Wall Street analyst today. The company received a Buy rating from RBC Capital’s analyst Shailender Randhawa, with a C$2 price target.

Randhawa has an average return of 50.5% when recommending Athabasca Oil.

According to TipRanks.com, Randhawa is ranked #2478 out of 4771 analysts.

Currently, the analyst consensus on Athabasca Oil is Strong Buy and the average price target is C$1.89, representing a 37.0% upside.

In a report issued on April 5, AltaCorp Captial also reiterated a Buy rating on the stock with a C$1.80 price target.

The company has a one-year high of C$1.52 and a one-year low of C$0.85. Currently, Athabasca Oil has an average volume of 1.11M.

Athabasca Oil Corp. focuses on the sustainable development of light oil resources in northwestern Alberta and oil sands in the Athabasca region in northeastern Alberta. It operates through the following business units: Thermal Oil and Light Oil.

The company’s shares closed on Thursday at C$1.38.