Whitecap Resources (OTCMKTS:SPGYF) Price Target Raised to C$9.00

Whitecap Resources (OTCMKTS:SPGYF) had its target price boosted by investment analysts at Scotiabank from C$7.50 to C$9.00 in a research note issued on Thursday, The Fly reports. The brokerage presently has a “sector perform” rating on the stock.

SPGYF has been the topic of several other reports. Stifel Nicolaus increased their price objective on shares of Whitecap Resources from C$9.00 to C$10.00 and gave the company a “buy” rating in a research report on Wednesday. CIBC increased their price objective on shares of Whitecap Resources from C$7.50 to C$9.00 and gave the company an “outperform” rating in a research report on Wednesday, July 14th. BMO Capital Markets raised their price target on shares of Whitecap Resources from C$9.00 to C$10.00 and gave the company an “outperform” rating in a report on Wednesday, October 6th. Raymond James raised their price target on shares of Whitecap Resources from C$9.00 to C$10.00 and gave the company a “strong-buy” rating in a report on Friday, September 24th. Finally, Royal Bank of Canada raised their price target on shares of Whitecap Resources from C$8.50 to C$9.00 and gave the company an “outperform” rating in a report on Wednesday, October 6th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $9.22.

SPGYF stock traded up $0.02 during trading on Thursday, hitting $5.99. 31,725 shares of the stock traded hands, compared to its average volume of 71,554. Whitecap Resources has a 1 year low of $1.69 and a 1 year high of $6.20. The firm’s 50 day moving average is $4.68 and its two-hundred day moving average is $4.70.

About Whitecap Resources

Whitecap Resources, Inc engages in the acquisition, development, and production of crude oil and natural gas. It focuses on the Boundary Lake, Valhalla, West Central Alberta, West Central Saskatchewan, and Southwest Saskatchewan. The company was founded by Grant B. Fagerheim on June 3, 2008 and is headquartered in Calgary, Canada.

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