Trinidad Drilling (TSE:TDG) Price Target Increased to C$2.25 by Analysts at Canaccord Genuity

Trinidad Drilling (TSE:TDG) had its price target lifted by equities research analysts at Canaccord Genuity from C$2.00 to C$2.25 in a report released on Tuesday, October 16th. Canaccord Genuity’s price objective points to a potential upside of 33.93% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. National Bank Financial cut shares of Trinidad Drilling from an “outperform” rating to a “sector perform” rating and set a C$2.20 price objective for the company. in a report on Wednesday, September 26th. BMO Capital Markets dropped their price target on shares of Trinidad Drilling from C$3.00 to C$2.00 in a research report on Thursday, August 9th. Raymond James raised their price target on shares of Trinidad Drilling from C$2.75 to C$3.00 and gave the company an “outperform” rating in a research report on Friday, June 29th. Finally, GMP Securities lowered shares of Trinidad Drilling from a “hold” rating to a “tender” rating in a research report on Tuesday, October 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of C$2.08.

Shares of TSE TDG remained flat at $C$1.68 during trading hours on Tuesday. 1,661,400 shares of the company traded hands, compared to its average volume of 753,835. Trinidad Drilling has a twelve month low of C$1.33 and a twelve month high of C$2.11.

Trinidad Drilling (TSE:TDG) last issued its quarterly earnings data on Tuesday, August 7th. The company reported C($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C($0.09) by C$0.04. The company had revenue of C$129.58 million during the quarter, compared to the consensus estimate of C$120.10 million.

Trinidad Drilling Company Profile

Trinidad Drilling Ltd. designs, builds, and operates drilling rigs for complex wells primarily in Canada, the United States, and internationally. It provides land drilling services. The company operates 70 rigs in Canada; and 69 rigs in the United States and internationally. It also engages in construction and insurance businesses; and provides rig technology and labor services.

Further Reading: Technical Analysis

Analyst Recommendations for Trinidad Drilling (TSE:TDG)

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