Calfrac Well Services’ (CFW) “Underperform” Rating Reiterated at Scotiabank
Calfrac Well Services Ltd. (TSE:CFW)‘s stock had its “underperform” rating reissued by investment analysts at Scotiabank in a research report issued to clients and investors on Friday. They presently have a C$3.00 price objective on the stock. Scotiabank’s price objective points to a potential upside of 4.17% from the stock’s previous close.
Other equities analysts also recently issued reports about the stock. CIBC reduced their target price on shares of Calfrac Well Services from C$4.50 to C$4.25 in a research note on Friday. Canaccord Genuity boosted their price target on shares of Calfrac Well Services from C$3.25 to C$3.50 in a research note on Thursday, October 13th. Raymond James Financial Inc. reduced their price target on shares of Calfrac Well Services from C$5.70 to C$5.50 in a research note on Friday, October 7th. TD Securities reduced their price target on shares of Calfrac Well Services from C$3.75 to C$2.75 and set a “hold” rating on the stock in a research note on Friday, July 29th. Finally, FirstEnergy Capital raised shares of Calfrac Well Services from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 12th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Calfrac Well Services has a consensus rating of “Hold” and a consensus price target of C$3.53.
Shares of Calfrac Well Services (TSE:CFW) traded down 1.04% during midday trading on Friday, reaching $2.85. 595,574 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $3.02 and its 200 day moving average price is $2.83. Calfrac Well Services has a 1-year low of $1.06 and a 1-year high of $4.17. The stock’s market capitalization is $329.40 million.
About Calfrac Well Services
Calfrac Well Services Ltd. is a provider of specialized oilfield services. The Company operates through four geographical segments: Canada, the United States, Russia and Latin America. Its services include hydraulic fracturing, coiled tubing, cementing and other well stimulation services. The Canadian segment provides fracturing and coiled tubing services to oil and natural gas exploration and production companies in Alberta, northeast British Columbia, Saskatchewan and southwest Manitoba.
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