Storm Resources (SRX) Lifted to Outperform at Raymond James Financial
Raymond James Financial upgraded shares of Storm Resources (TSE:SRX) from a market perform rating to an outperform rating in a research report sent to investors on Friday. Raymond James Financial currently has C$3.35 price target on the stock, up from their prior price target of C$3.00.
SRX has been the topic of a number of other reports. National Bank Financial cut their target price on Storm Resources from C$4.25 to C$3.75 and set a sector perform rating on the stock in a report on Tuesday, January 9th. BMO Capital Markets cut their target price on Storm Resources from C$3.00 to C$2.25 in a report on Friday. CIBC lowered their price target on Storm Resources from C$3.75 to C$3.00 in a research report on Tuesday, January 23rd. Finally, GMP Securities lowered their price target on Storm Resources from C$6.25 to C$5.75 in a research report on Thursday, November 16th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of C$4.41.
Shares of Storm Resources (TSE SRX) traded up C$0.01 on Friday, hitting C$1.88. The company had a trading volume of 313,450 shares, compared to its average volume of 89,243. Storm Resources has a 12 month low of C$0.20 and a 12 month high of C$2.33. The company has a market cap of $227.31, a PE ratio of 12.53 and a beta of 0.14.
Storm Resources Ltd. acquires, explores, develops, and produces oil, natural gas, and natural gas liquids in Canada. It primarily owns interests in lands covering approximately an area of 109,000 net acres in 155 net sections located in Umbach, as well as interests in 119 sections covering approximately an area of 78,000 net acres situated in Horn River Basin, Northeast British Columbia.
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