BMO Capital Markets Increases Whitecap Resources (WCP) Price Target to C$13.00

Whitecap Resources (TSE:WCP) had its price objective raised by research analysts at BMO Capital Markets from C$12.50 to C$13.00 in a research note issued to investors on Tuesday. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 50.46% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. National Bank Financial boosted their price objective on Whitecap Resources from C$11.50 to C$12.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Raymond James Financial boosted their price objective on Whitecap Resources from C$13.25 to C$14.00 and gave the company an “outperform” rating in a report on Tuesday, November 14th. Barclays upped their target price on Whitecap Resources from C$10.00 to C$11.00 in a report on Thursday, November 2nd. Finally, CIBC reiterated an “outperform” rating and issued a C$12.50 target price on shares of Whitecap Resources in a report on Tuesday. Seven research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of C$13.10.

Whitecap Resources (WCP) opened at C$8.64 on Tuesday. Whitecap Resources has a 1-year low of C$8.42 and a 1-year high of C$12.90.

In related news, Director Grant Bradley Fagerheim purchased 10,200 shares of Whitecap Resources stock in a transaction dated Monday, December 4th. The stock was purchased at an average cost of C$8.91 per share, with a total value of C$90,882.00.

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Whitecap Resources Company Profile

Whitecap Resources Inc is a Canada-based oil-weighted growth company focused on its existing assets enhanced by oil-based acquisitions. Its assets include Boundary Lake property, which is located in northeast British Columbia; Valhalla North property, which is located in the Peace River Arch area of Alberta and is characterized by shallow declines and a production base, and Deep Basin properties, which include Karr, Simonette, Kakwa, Elmworth and Wapiti, which are located southwest of Grande Prairie, Alberta.

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