Gibson Energy Receives a Buy from Desjardins

Today, an analyst has provided a rating update for the Materials sector company, Gibson Energy (TSX: GEI). Analyst Justin Bouchard from Desjardins reiterated a Buy rating, with a C$21 price target.

Bouchard has an average return of 10.3% when recommending Gibson Energy.

According to TipRanks.com, Bouchard is ranked #4246 out of 4743 analysts.

Currently, the analyst consensus on Gibson Energy is Moderate Buy and the average price target is C$19.42, representing a 2.2% upside.

In a report issued on January 8, Canaccord Genuity also reiterated a Buy rating on the stock with a C$20.50 price target.

Based on Gibson Energy’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$1.4 billion and GAAP net loss of C$7.87 million. In comparison, last year the company earned revenue of C$1.31 billion and had a GAAP net loss of C$36.81 million.

Gibson Energy, Inc. engages in the movement, storage, blending, processing, marketing, and distribution of crude oil, condensate, natural gas liquids, water, oilfield waste, and refined products. It operates through the following segments: Infrastructure, Wholesale, Logistics and Other.

The company’s shares closed on Friday at C$19.

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