CIBC Cuts Painted Pony Energy (TSE:PONY) Price Target to C$1.50

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Painted Pony Energy (TSE:PONY) had its price objective trimmed by CIBC from C$2.50 to C$1.50 in a report released on Thursday morning, BayStreet.CA reports.

Several other equities research analysts also recently weighed in on PONY. GMP Securities reaffirmed a buy rating and issued a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. Eight Capital upped their price objective on shares of Painted Pony Energy from C$1.85 to C$1.90 in a report on Thursday, May 2nd. Raymond James reaffirmed a hold rating on shares of PrairieSky Royalty in a report on Thursday, July 11th. National Bank Financial reduced their price objective on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating for the company in a report on Tuesday, June 25th. Finally, Canaccord Genuity reaffirmed a buy rating and issued a $7.50 price objective on shares of in a report on Tuesday, July 9th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of C$1.95.

PONY stock opened at C$0.87 on Thursday. The firm has a market capitalization of $140.07 million and a P/E ratio of 12.43. The business has a 50-day moving average of C$0.98. Painted Pony Energy has a fifty-two week low of C$0.86 and a fifty-two week high of C$3.54. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 75.09.

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.

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Analyst Recommendations for Painted Pony Energy (TSE:PONY)

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