Canadian Imperial Bank of Commerce Issues Positive Forecast for Topaz Energy (TSE:TPZ) Stock Price

Topaz Energy (TSE:TPZ) had its price objective lifted by Canadian Imperial Bank of Commerce from C$29.00 to C$33.50 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Canadian Imperial Bank of Commerce’s target price suggests a potential upside of 8.80% from the company’s previous close.

TPZ has been the topic of a number of other reports. Raymond James Financial lifted their target price on Topaz Energy from C$32.00 to C$34.00 in a research report on Tuesday, December 9th. Jefferies Financial Group lowered their target price on Topaz Energy from C$31.00 to C$30.00 in a research note on Tuesday, January 20th. Scotiabank upgraded shares of Topaz Energy to a “strong-buy” rating in a report on Friday, November 28th. ATB Cormark Capital Markets lifted their target price on Topaz Energy from C$31.00 to C$33.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, National Bank Financial set a C$33.50 price target on Topaz Energy and gave the stock an “outperform” rating in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$32.81.

Topaz Energy Stock Up 0.7%

Shares of Topaz Energy stock traded up C$0.20 on Wednesday, hitting C$30.79. 180,258 shares of the company traded hands, compared to its average volume of 441,714. The company has a market cap of C$4.74 billion, a PE ratio of 83.22 and a beta of 0.27. The company has a 50-day moving average price of C$28.02 and a 200 day moving average price of C$26.70. Topaz Energy has a 12-month low of C$21.00 and a 12-month high of C$31.16. The company has a quick ratio of 7.17, a current ratio of 1.89 and a debt-to-equity ratio of 36.45.

About Topaz Energy

Topaz Energy Corp is a royalty and energy infrastructure company focused on generating free cash flow growth and paying reliable and sustainable dividends to its shareholders, through its strategic relationship with Canada’s natural gas producers, and leveraging industry relationships to execute complementary acquisitions from other high-quality energy companies, while maintaining its commitment to environmental, social and governance practices. It generates revenue from the Royalty Assets, which generate the company’s Royalty Production Revenue; and the Infrastructure Assets, which generate the company’s Processing Revenue and Other Income.