Trinidad Drilling Ltd. (TDG) Price Target Cut to C$2.80 by Analysts at Raymond James Financial, Inc.
Trinidad Drilling Ltd. (TSE:TDG) had its price objective lowered by equities research analysts at Raymond James Financial, Inc. from C$3.80 to C$2.80 in a report released on Tuesday. The firm presently has a “speculative buy” rating on the stock. Raymond James Financial, Inc.’s price target indicates a potential upside of 77.22% from the company’s previous close.
Several other research analysts have also weighed in on the company. Scotiabank upped their target price on Trinidad Drilling from C$4.25 to C$4.50 and gave the stock an “outperform” rating in a research report on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a C$4.00 target price on shares of Trinidad Drilling in a research report on Wednesday, June 21st. BMO Capital Markets dropped their target price on Trinidad Drilling from C$3.75 to C$3.00 and set a “market perform” rating on the stock in a research report on Thursday, May 11th. Canaccord Genuity dropped their target price on Trinidad Drilling from C$3.50 to C$2.50 in a research report on Tuesday, July 11th. Finally, National Bank Financial dropped their target price on Trinidad Drilling from C$3.25 to C$2.60 in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of C$3.38.
Shares of Trinidad Drilling (TSE:TDG) traded up 0.316% on Tuesday, reaching $1.585. 85,025 shares of the company traded hands. The company’s market capitalization is $427.23 million. Trinidad Drilling has a 52-week low of $1.57 and a 52-week high of $3.77. The firm has a 50-day moving average of $1.78 and a 200-day moving average of $2.18.
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About Trinidad Drilling
Trinidad Drilling Ltd. designs, builds, and operates drilling rigs for the oil and gas industry primarily in Canada, the United States, and internationally. It provides land drilling services. As of December 31, 2016, the company operated 72 rigs in Canada; and 67 rigs in the United States and internationally.
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