Scotiabank Reaffirms “Outperform” Rating for Canacol Energy (CNE)

Scotiabank reiterated their outperform rating on shares of Canacol Energy (TSE:CNE) in a research note issued to investors on Wednesday. Scotiabank currently has a C$6.25 target price on the oil and gas exploration company’s stock.

Several other equities analysts also recently weighed in on the stock. Eight Capital dropped their target price on shares of Canacol Energy from C$7.00 to C$6.75 in a report on Wednesday. CIBC downgraded shares of Canacol Energy from an outperform rating to a neutral rating and dropped their target price for the company from C$5.50 to C$5.00 in a report on Thursday, November 16th. Finally, Canaccord Genuity downgraded shares of Canacol Energy from a buy rating to a hold rating and dropped their target price for the company from C$5.15 to C$4.75 in a report on Thursday, September 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of C$5.75.

Canacol Energy (CNE) opened at C$4.51 on Wednesday. Canacol Energy has a twelve month low of C$3.62 and a twelve month high of C$4.61. The firm has a market cap of $768.10, a PE ratio of 26.53 and a beta of 0.03.

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Canacol Energy Company Profile

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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