CIBC Lowers Calfrac Well Services (TSE:CFW) Price Target to C$3.25
Calfrac Well Services (TSE:CFW) had its price target dropped by stock analysts at CIBC from C$4.00 to C$3.25 in a research note issued on Thursday, BayStreet.CA reports. CIBC’s target price points to a potential upside of 60.10% from the company’s previous close.
Several other research analysts have also recently issued reports on the stock. National Bank Financial cut shares of Calfrac Well Services from an “outperform market weight” rating to a “sector perform overweight” rating in a report on Wednesday, May 1st. Raymond James reissued a “buy” rating and set a $21.00 target price on shares of Colfax in a report on Thursday, May 2nd. Canaccord Genuity reissued a “buy” rating and set a $7.50 target price on shares of in a report on Tuesday, July 9th. AltaCorp Capital cut shares of Calfrac Well Services from a “sector perform” rating to an “underperform” rating in a report on Monday, July 8th. Finally, TD Securities cut their price objective on shares of WPX Energy from $19.00 to $18.50 and set a “buy” rating for the company in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Calfrac Well Services has a consensus rating of “Hold” and a consensus target price of C$4.66.
Shares of Calfrac Well Services stock opened at C$2.03 on Thursday. The company has a current ratio of 2.10, a quick ratio of 1.48 and a debt-to-equity ratio of 205.83. The business’s fifty day simple moving average is C$2.02. Calfrac Well Services has a 1 year low of C$1.69 and a 1 year high of C$5.66. The stock has a market capitalization of $299.29 million and a PE ratio of -5.02.
About Calfrac Well Services
Calfrac Well Services Ltd., together with its subsidiaries, provides specialized oilfield services in Canada, the United States, the Russian Federation, Mexico, and Argentina. The company offers hydraulic fracturing, coiled tubing, cementing, other well stimulation, and pressure pumping services to oil and natural gas industries.
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