Nuvista Energy (NVA) Raised to “Buy” at Canaccord Genuity
Nuvista Energy (TSE:NVA) was upgraded by equities researchers at Canaccord Genuity from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has a C$6.00 price target on the stock, up from their prior price target of C$5.00. Canaccord Genuity’s price target indicates a potential upside of 23.20% from the company’s current price.
Several other analysts have also recently commented on the stock. BMO Capital Markets reiterated an “average” rating and issued a C$6.50 price target on shares of Nuvista Energy in a research note on Monday, January 7th. Royal Bank of Canada reiterated a “buy” rating and issued a C$6.00 price target (down previously from C$9.00) on shares of Nuvista Energy in a research note on Monday, January 7th. National Bank Financial decreased their price target on shares of Nuvista Energy from C$11.50 to C$8.00 in a research note on Monday, December 10th. TD Securities decreased their price target on shares of Nuvista Energy from C$8.50 to C$8.00 and set a “buy” rating on the stock in a research note on Friday, February 8th. Finally, Cormark decreased their price target on shares of Nuvista Energy from C$10.00 to C$8.00 in a research note on Friday, February 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of C$8.52.
Shares of NVA stock opened at C$4.87 on Tuesday. The firm has a market capitalization of $1.06 billion and a price-to-earnings ratio of 6.86. Nuvista Energy has a 52 week low of C$3.38 and a 52 week high of C$9.89. The company has a debt-to-equity ratio of 33.69, a quick ratio of 0.52 and a current ratio of 0.92.
About Nuvista Energy
NuVista Energy Ltd., an oil and natural gas company, engages in the exploration, development, delineation, and production of condensate, and oil and natural gas reserves in the Western Canadian Sedimentary Basin in Canada. It primarily focuses on the condensate-rich Montney formation in the Wapiti area of the Alberta Deep Basin.
Further Reading: Quick Ratio
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