Bonavista Energy (TSX: BNP), the Materials sector company was revisited on February 2, and remains undervalued for at least one analyst on the street. Analyst Patrick Bryden from Scotiabank remains bullish on the stock and has a C$6 price target.
According to TipRanks.com, Bryden is ranked 0 out of 5 stars with an average return of -5.3% and a 34.3% success rate. Bryden covers the Basic Materials sector, focusing on stocks such as Pengrowth Energy Corp, Baytex Energy Corp, and Enerplus Corp.
Currently, the analyst consensus on Bonavista Energy is Moderate Buy and the average price target is C$6.29, representing a 90.9% upside.
In a report issued on March 6, GMP FirstEnergy also upgraded the stock to Buy with a C$5.75 price target.
The company has a one year high of C$5.58 and a one year low of C$2.23. Currently, Bonavista Energy has an average volume of 798K.
Bonavista Energy Corp. explores, develops and produces oil and natural gas in Canada. Its major properties are concentrated within three core regions in western Canada. The company’s Western core region operations offer multi-zone oil and liquids rich natural gas resources in close proximity to infrastructure and services, with year round access. Its Northern core region is characterized by a production base with a significant inventory of undeveloped acreage. The company’s Eastern region is characterized by low risk development opportunities offering capital flexibility leading to modest production growth. Bonavista Energy was founded in 1997 and is headquartered in Calgary, Canada.