Calfrac Well Services (TSE:CFW) Price Target Cut to C$6.50 by Analysts at CIBC

Calfrac Well Services (TSE:CFW) had its target price lowered by CIBC from C$8.50 to C$6.50 in a research note issued to investors on Tuesday, October 16th.

Several other analysts have also issued reports on the stock. National Bank Financial reduced their price target on shares of Calfrac Well Services from C$7.00 to C$4.85 and set a sector perform rating on the stock in a research report on Wednesday, September 26th. Canaccord Genuity reduced their price target on shares of Calfrac Well Services from C$7.75 to C$7.00 in a research report on Friday, August 17th. Royal Bank of Canada reduced their price target on shares of Calfrac Well Services from C$8.00 to C$7.00 and set an outperform rating on the stock in a research report on Thursday, July 26th. BMO Capital Markets dropped their price objective on shares of Calfrac Well Services from C$8.00 to C$6.50 in a research note on Thursday, July 26th. Finally, Raymond James raised their price target on shares of Calfrac Well Services from C$10.00 to C$10.25 and gave the company a c$5.74 rating in a research note on Wednesday, July 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Calfrac Well Services presently has an average rating of Buy and an average price target of C$7.49.

Shares of TSE CFW traded down C$0.11 during trading hours on Tuesday, hitting C$3.94. 689,800 shares of the stock were exchanged, compared to its average volume of 592,723. The company has a current ratio of 2.43, a quick ratio of 1.67 and a debt-to-equity ratio of 207.25. Calfrac Well Services has a 1-year low of C$3.59 and a 1-year high of C$8.35.

Calfrac Well Services Company Profile

Calfrac Well Services Ltd., together with its subsidiaries, provides specialized oilfield services in Canada, the United States, the Russian Federation, Mexico, and Argentina. The company offers hydraulic fracturing, coiled tubing, cementing, other well stimulation, and pressure pumping services to oil and natural gas industries.

Further Reading: Technical Analysis

Analyst Recommendations for Calfrac Well Services (TSE:CFW)

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