CIBC Forecasts Strong Price Appreciation for Topaz Energy (TSE:TPZ) Stock

Topaz Energy (TSE:TPZ) had its target price upped by CIBC from C$31.00 to C$32.00 in a report issued on Friday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 17.99% from the company’s previous close.

Several other research firms have also issued reports on TPZ. TD Securities increased their price objective on Topaz Energy from C$28.00 to C$30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. National Bankshares boosted their price target on Topaz Energy from C$32.50 to C$33.50 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada boosted their price target on Topaz Energy from C$30.00 to C$32.00 in a research note on Wednesday, November 6th. Jefferies Financial Group upped their target price on Topaz Energy from C$30.00 to C$31.00 in a research report on Monday, December 16th. Finally, ATB Capital cut Topaz Energy from an “overweight” rating to a “neutral” rating and upped their target price for the stock from C$30.00 to C$31.00 in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$31.54.

Topaz Energy Price Performance

Shares of TSE TPZ opened at C$27.12 on Friday. The firm has a 50-day moving average of C$27.57 and a two-hundred day moving average of C$26.46. The company has a current ratio of 2.12, a quick ratio of 7.17 and a debt-to-equity ratio of 37.52. The company has a market capitalization of C$3.93 billion, a price-to-earnings ratio of 73.30 and a beta of 0.50. Topaz Energy has a twelve month low of C$18.59 and a twelve month high of C$29.51.

About Topaz Energy

Topaz Energy Corp. operates as a royalty and energy infrastructure company in Canada. It operates in two segments, the Royalty Assets and the Infrastructure Assets. The company holds royalty interests on approximately 6 million gross acres of developed and undeveloped lands. It also involved in the natural gas processing and water management infrastructure activities.