Brokerages Set Price Target for Advantage Energy at C$14.00

Advantage Energy Ltd. (TSE:AAV) has received a consensus recommendation of “Moderate Buy” from nine brokerages covering the firm, according to MarketBeat Ratings. This recommendation reflects a mix of ratings from investment analysts, where four have issued a hold rating, four have given a buy rating, and one has provided a strong buy rating. The average price target for the stock over the next year is C$14.00.

A number of brokerages have recently adjusted their price targets for Advantage Energy. The Royal Bank of Canada raised its target from C$12.00 to C$14.00 while maintaining a “sector perform” rating. ATB Capital went further, increasing its target from C$14.00 to C$15.00 along with an “outperform” rating. Desjardins also adjusted their price objective from C$14.50 to C$15.00, giving the company a “buy” rating.

In a noteworthy shift, Raymond James Financial upgraded Advantage Energy from a “hold” to a “moderate buy” rating, increasing their target price from C$13.00 to C$15.00. Conversely, National Bankshares lowered its rating from “outperform” to “sector perform,” reducing the target price from C$14.50 to C$14.00.

Recent Stock Performance

On October 28, 2023, Advantage Energy opened at C$12.18. The company has experienced a 12-month low of C$7.81 and a high of C$13.20. With a market capitalization of C$2.03 billion, Advantage Energy has a price-to-earnings ratio of 34.80. The stock’s 50-day moving average price stands at C$11.88, while the 200-day moving average is C$11.53.

Advantage Energy reported earnings of C$0.00 per share for the most recent quarter, with a net margin of 8.98%. The firm generated revenue of C$137.96 million during this period. Analysts predict that Advantage Energy will achieve earnings per share of approximately 1.47 for the current fiscal year.

Company Overview

Advantage Energy Ltd. is dedicated to providing clean, affordable, reliable, and sustainable energy to meet the needs of Canada and the world. The company focuses on the development of its Montney natural gas and liquids resource located in Glacier, Wembley/Pipestone, Valhalla, and Progress, Alberta.

This strategic positioning underscores Advantage Energy’s commitment to tapping into its vast resources while catering to a growing demand for sustainable energy solutions. As the energy sector continues to evolve, the company remains well-poised for future growth and investment opportunities.