Eight Capital Lowers Canacol Energy (CNE) Price Target to C$6.75

Canacol Energy (TSE:CNE) had its price objective reduced by analysts at Eight Capital from C$7.00 to C$6.75 in a report released on Wednesday. Eight Capital’s price objective points to a potential upside of 51.01% from the stock’s current price.

Several other equities analysts have also commented on the company. Scotiabank reaffirmed an “outperform” rating and issued a C$6.25 price target on shares of Canacol Energy in a research note on Tuesday, December 5th. CIBC lowered Canacol Energy from an “outperform” rating to a “neutral” rating and decreased their price target for the company from C$5.50 to C$5.00 in a research note on Thursday, November 16th. Finally, Canaccord Genuity lowered Canacol Energy from a “buy” rating to a “hold” rating and decreased their price target for the company from C$5.15 to C$4.75 in a research note on Thursday, September 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of C$5.75.

Canacol Energy (TSE:CNE) opened at C$4.47 on Wednesday. Canacol Energy has a 12 month low of C$3.62 and a 12 month high of C$4.61.

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About Canacol Energy

Canacol Energy Ltd. is a Canada-based oil and gas exploration and production company. The Company is engaged in petroleum and natural gas exploration and development activities in Colombia and Ecuador. It owns approximately 0.5% interest in Oleoducto Bicentenario de Colombia (OBC), which owns a pipeline system that focuses on linking Llanos basin oil production to the Cano Limon oil pipeline system.

Analyst Recommendations for Canacol Energy (TSE:CNE)

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