Baytex Energy (TSE:BTE) (NYSE:BTE) was upgraded by research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a report released on Monday. The firm presently has a C$4.75 target price on the stock. Raymond James’ price objective would indicate a potential upside of 68.44% from the stock’s current price.
A number of other research analysts have also issued reports on BTE. BMO Capital Markets reduced their price target on Baytex Energy from C$4.75 to C$3.50 in a research report on Monday. GMP Securities reduced their price target on Baytex Energy from C$8.00 to C$7.75 in a research report on Monday. Royal Bank of Canada reduced their price target on Baytex Energy from C$6.00 to C$5.50 and set an “outperform” rating for the company in a research report on Monday. CSFB boosted their price target on Baytex Energy from C$5.50 to C$6.00 in a research report on Wednesday, July 11th. Finally, Canaccord Genuity boosted their price target on Baytex Energy from C$6.25 to C$7.00 in a research report on Tuesday, July 10th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Baytex Energy has a consensus rating of “Buy” and a consensus price target of C$5.85.
Shares of BTE stock opened at C$2.82 on Monday. Baytex Energy has a 1 year low of C$2.49 and a 1 year high of C$6.23.
Baytex Energy Company Profile
Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.
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