Enerplus (TSE:ERF) Given New C$17.50 Price Target at CIBC

Enerplus (TSE:ERF) (NYSE:ERF) had its price objective hoisted by equities researchers at CIBC from C$16.50 to C$17.50 in a research note issued to investors on Tuesday, January 23rd. CIBC’s price objective would indicate a potential upside of 31.98% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. TD Securities lifted their price target on Enerplus from C$15.00 to C$17.00 and gave the company a “buy” rating in a research report on Friday, December 15th. National Bank Financial lifted their price target on Enerplus from C$15.00 to C$21.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. Barclays lifted their price target on Enerplus from C$15.00 to C$16.00 in a research report on Monday, November 13th. Raymond James Financial boosted their target price on Enerplus from C$15.00 to C$15.50 and gave the stock an “outperform” rating in a report on Friday, November 10th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a C$16.00 target price on shares of Enerplus in a report on Thursday, December 14th. Seven investment analysts have rated the stock with a buy rating, Enerplus currently has an average rating of “Buy” and an average target price of C$17.59.

Enerplus (TSE:ERF) traded up C$0.01 on Tuesday, hitting C$13.26. The stock had a trading volume of 690,344 shares, compared to its average volume of 1,232,780. Enerplus has a 52-week low of C$8.97 and a 52-week high of C$14.54. The stock has a market capitalization of $3,230.00, a PE ratio of 3.21 and a beta of 1.10.

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Enerplus Company Profile

Enerplus Corporation is an oil and natural gas company. The Company’s oil and natural gas property interests are located in the United States, primarily in North Dakota, Montana, and Pennsylvania, as well as in western Canada in the provinces of Alberta, British Columbia and Saskatchewan. The Company’s oil and natural gas property interests contains proved plus probable gross reserves of approximately 14.3 million barrels (MMbbls) of light and medium crude oil, 39.0 MMbbls of heavy crude oil, 123 MMbbls of tight oil, 18.1 MMbbls of natural gas liquids (NGLs), 126.3 billion cubic feet (Bcf) of conventional natural gas and 1,002.8 Bcf of shale gas, for a total of approximately 382.5 million barrels of oil equivalent (MMBOE).

Analyst Recommendations for Enerplus (TSE:ERF)

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