Trinidad Drilling Ltd. (TDG) Cut to “Hold” at TD Securities

TD Securities downgraded shares of Trinidad Drilling Ltd. (TSE:TDG) from a buy rating to a hold rating in a research report released on Thursday. TD Securities currently has C$2.00 target price on the stock, down from their prior target price of C$2.25.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of Trinidad Drilling from C$3.50 to C$3.00 and set an outperform rating for the company in a research report on Friday, October 6th. CIBC cut their price objective on shares of Trinidad Drilling from C$2.75 to C$2.50 in a research report on Friday, October 20th. Canaccord Genuity cut shares of Trinidad Drilling from a buy rating to a hold rating and cut their price objective for the stock from C$2.50 to C$1.90 in a research report on Wednesday, August 2nd. BMO Capital Markets upgraded shares of Trinidad Drilling from a market perform rating to an outperform rating and set a C$3.00 price objective for the company in a research report on Thursday, August 3rd. Finally, National Bank Financial cut their price objective on shares of Trinidad Drilling from C$3.25 to C$2.60 in a research report on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Trinidad Drilling currently has an average rating of Hold and a consensus target price of C$2.46.

Shares of Trinidad Drilling (TSE:TDG) opened at C$1.63 on Thursday. Trinidad Drilling has a 12-month low of C$1.43 and a 12-month high of C$3.77.

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About Trinidad Drilling

Trinidad Drilling Ltd. is a Canada-based company, which operates in the drilling sector of the North American oil and natural gas industry, with operations in Canada and the United States. The Company operates through five segments, which include Canadian Operations, US and International Operations, Manufacturing Operations, Joint Venture Operations and Corporate.

Analyst Recommendations for Trinidad Drilling (TSE:TDG)

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