Gibson Energy (TSE:GEI) Upgraded to Outperform at Royal Bank of Canada

Gibson Energy (TSE:GEI) was upgraded by equities researchers at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has a C$31.00 target price on the stock, up from their prior target price of C$27.00. Royal Bank of Canada’s price objective points to a potential upside of 20.72% from the stock’s current price.

Several other research firms have also commented on GEI. CSFB restated a “neutral” rating on shares of Gibson Energy in a report on Tuesday, November 5th. National Bank Financial lifted their price objective on shares of Gibson Energy from C$28.00 to C$29.00 and gave the company an “outperform” rating in a report on Wednesday. TD Securities boosted their price objective on shares of Gibson Energy from C$24.00 to C$25.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Raymond James restated an “outperform” rating and set a C$25.00 target price on shares of Gibson Energy in a report on Tuesday, November 5th. Finally, CIBC raised Gibson Energy from a “neutral” rating to an “outperform” rating and increased their target price for the company from C$25.00 to C$26.00 in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of C$26.77.

Shares of Gibson Energy stock traded up C$0.55 during trading on Wednesday, hitting C$25.68. 515,118 shares of the stock traded hands, compared to its average volume of 389,754. The company has a current ratio of 1.07, a quick ratio of 0.90 and a debt-to-equity ratio of 209.24. Gibson Energy has a 52-week low of C$16.90 and a 52-week high of C$26.08. The stock’s fifty day simple moving average is C$24.09 and its 200 day simple moving average is C$23.36. The firm has a market cap of $3.66 billion and a P/E ratio of 23.03.

Gibson Energy Company Profile

Gibson Energy Inc engages in the gathering, storage, optimization, processing, and marketing of crude oil and refined products in North America. It operates through Infrastructure and Wholesale segments. The Infrastructure segment operates a network of infrastructure assets that include oil terminals, rail loading and unloading facilities, injection stations, gathering pipelines, and a crude oil processing facility, as well as procession, recovery, and disposal terminals.

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Analyst Recommendations for Gibson Energy (TSE:GEI)

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