Painted Pony Energy (PONY) Given New C$2.00 Price Target at Royal Bank of Canada

Painted Pony Energy (TSE:PONY) had its target price lowered by Royal Bank of Canada from C$3.00 to C$2.00 in a report released on Tuesday morning.

Several other equities research analysts have also commented on PONY. TD Securities increased their price objective on shares of Painted Pony Energy from C$3.75 to C$4.75 and gave the company a buy rating in a research note on Wednesday, October 3rd. CIBC decreased their price objective on shares of Painted Pony Energy from C$3.50 to C$3.25 in a research note on Friday, October 5th. Raymond James decreased their price objective on shares of Painted Pony Energy from C$3.50 to C$3.00 and set a market perform rating for the company in a research note on Tuesday, November 6th. National Bank Financial decreased their price target on shares of Painted Pony Energy from C$2.75 to C$2.00 and set a sector perform rating for the company in a research note on Monday, December 10th. Finally, GMP Securities decreased their price target on shares of Painted Pony Energy from C$3.00 to C$2.25 in a research note on Thursday, December 13th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of C$2.68.

TSE:PONY opened at C$1.40 on Tuesday. The company has a current ratio of 0.53, a quick ratio of 0.45 and a debt-to-equity ratio of 82.89. Painted Pony Energy has a 52 week low of C$1.26 and a 52 week high of C$3.54.

About Painted Pony Energy

Painted Pony Energy Ltd. engages in the exploration, development, and production of petroleum and natural gas resources in Western Canada. It focuses primarily on the development and production of natural gas and natural gas liquids from the Montney formation in northeast British Columbia. The company was formerly known as Painted Pony Petroleum Ltd.

Further Reading: What is a Leveraged Buyout (LBO)?

Analyst Recommendations for Painted Pony Energy (TSE:PONY)

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