TD Securities Believes Kelt Exploration (TSX: KEL) Still Has Room to Grow

By Jason Carr

Kelt Exploration (TSX: KEL), the Materials sector company, has received a rating update from a Wall Street analyst yesterday. The company received a Buy rating from TD Securities’ analyst Juan Jarrah, with a C$9.50 price target.

Jarrah observed:

“We are removing Kelt from the Action List based on significant outperformance since we added the company on September 6, 2016.”

Jarrah has an average return of 2.4% when recommending Kelt Exploration.

According to TipRanks.com, Jarrah is ranked #3728 out of 4560 analysts.

Currently, the analyst consensus on Kelt Exploration is Strong Buy and the average price target is C$8.84, representing a 22.1% upside.

In a report issued on May 10, BMO Capital also reiterated a Buy rating on the stock with a C$8.25 price target.

Kelt Exploration’s market cap is currently C$1.27B and has a P/E ratio of 0.

Kelt Exploration Ltd. is a Canadian based oil and gas company . It focuses on exploration and development of crude oil and natural gas resources, primarily in west central Alberta and northeastern British Columbia. The company was founded on October 11, 2012 and is headquartered in Calgary, Canada.

The company’s shares closed last Tuesday at $7.24, close to its 52-week high of $7.70.