RBC Capital Thinks Source Energy Services Ltd’s Stock is Going to Recover

By Austin Angelo

The NA sector company, Source Energy Services Ltd (TSX: SHLE), has received a rating update from a Wall Street analyst today. RBC Capital’s analyst Benjamin Owens reiterates their Buy rating on the shares, with a C$8 price target.

According to TipRanks.com, Owens is ranked #4206 out of 4771 analysts.

Currently, the analyst consensus on Source Energy Services Ltd is Strong Buy and the average price target is C$8.70, representing a 71.3% upside.

In a report issued on April 11, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$9 price target.

Source Energy Services Ltd’s market cap is currently C$326.5M and has a P/E ratio of 0.

Source Energy Services Ltd. engages in the production, supply, and distribution of northern white frac sand. Its services include proppants, logistics, terminals, storage and transfer of chemicals, and field solutions. The company was founded on February 7, 2017 and is headquartered in Calgary, Canada.

The company’s shares closed on Monday at C$5.08, close to its 52-week low of C$4.40.