Canaccord Genuity Trims PrairieSky Royalty (PSK) Target Price to C$26.00

PrairieSky Royalty (TSE:PSK) had its price objective dropped by research analysts at Canaccord Genuity from C$29.00 to C$26.00 in a research note issued on Tuesday, October 16th. Canaccord Genuity’s target price would suggest a potential upside of 34.37% from the stock’s previous close.

Several other brokerages have also issued reports on PSK. Raymond James cut their price target on PrairieSky Royalty from C$29.50 to C$28.50 and set a “market perform” rating on the stock in a report on Tuesday, July 24th. CIBC cut their price target on PrairieSky Royalty from C$32.00 to C$30.00 in a report on Friday, October 5th. Finally, National Bank Financial upgraded PrairieSky Royalty from a “sector perform overweight” rating to an “outperform overweight” rating and raised their target price for the company from C$30.00 to C$31.00 in a report on Wednesday, July 18th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of C$30.04.

Shares of PSK stock traded down C$0.26 on Tuesday, hitting C$19.35. The company had a trading volume of 402,500 shares, compared to its average volume of 488,947. PrairieSky Royalty has a twelve month low of C$18.96 and a twelve month high of C$35.00.

About PrairieSky Royalty

PrairieSky Royalty Ltd. engages in crude oil and natural gas businesses in Canada. The company holds royalty interests in properties located in Alberta, Saskatchewan, British Columbia, and Manitoba. It hold interests in approximately 7.8 million acres with petroleum and/or natural gas rights; 1.1 million acres with coal; and 7.5 million acres of GORR Lands.

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Analyst Recommendations for PrairieSky Royalty (TSE:PSK)

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