CIBC Reiterates ?Sector Perform? Rating on Canacol Energy (CNE)

January 30th, 2013 ? 0 comments ? Filed Under ? by ABMN Staff

Canacol Energy (TSE: CNE)?s stock had its ?sector perform? rating restated by equities researchers at CIBC in a report issued on Wednesday. They currently have a $4.50 target price on the stock.

Canacol Energy traded up 0.29% on Wednesday, hitting $3.41. Canacol Energy has a 52-week low of $2.40 and a 52-week high of $10.70. The stock?s 50-day moving average is currently $3.26.

A number of other analysts have also recently weighed in on CNE. Analysts at Mackie cut their price target on shares of Canacol Energy from $13.50 to $7.50 in a research note to investors on Monday, December 24th. Separately, analysts at Scotia Capital cut their price target on shares of Canacol Energy from $0.75 to $0.50 in a research note to investors on Thursday, November 15th. They now have a ?sector perform? rating on the stock. Finally, analysts at TD Securities cut their price target on shares of Canacol Energy from $0.95 to $0.85 in a research note to investors on Thursday, November 15th. They now have a ?buy? rating on the stock.

Canacol Energy Ltd. (Canacol) is a resource company engaged in the acquisition, exploration and development of oil and natural gas in Colombia, Brazil and Guyana.

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Source: http://www.americanbankingnews.com/2013/01/30/cibc-reiterates-sector-perform-rating-on-canacol-energy-cne/

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