In This Article:
As previously reported, CIBC upgraded Birchcliff Energy (BIREF) to Outperformer from Neutral with a price target of C$8, up from C$7. The stock’s valuation has “become compelling” following the multiple compression over the past six months, and the macro outlook for natural gas has improved with recent storage drawdowns, the analyst tells investors in a research note. The firm also believes Birchcliff’s recent move to right-size its dividend and reduce leverage puts the company on the “front foot to execute.”
Light Up your Portfolio with Spark:
-
Easily identify stocks' risks and opportunities.
-
Discover stocks' market position with detailed competitor analyses.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BIREF:
Questions or Comments about the article? Write to editor@tipranks.com