BMO Capital Markets Lowers Baytex Energy (BTE) Price Target to C$3.50

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Baytex Energy (TSE:BTE) (NYSE:BTE) had its price objective cut by analysts at BMO Capital Markets from C$4.75 to C$3.50 in a research report issued to clients and investors on Monday. BMO Capital Markets’ price target suggests a potential upside of 21.53% from the company’s previous close.

Several other brokerages also recently issued reports on BTE. Raymond James upgraded Baytex Energy from an “underperform” rating to a “market perform” rating and cut their price objective for the stock from C$5.00 to C$4.75 in a research report on Thursday, August 23rd. Canaccord Genuity lifted their price objective on Baytex Energy from C$6.25 to C$7.00 in a research report on Tuesday, July 10th. National Bank Financial lifted their price objective on Baytex Energy from C$5.25 to C$7.25 and gave the stock an “outperform” rating in a research report on Tuesday, July 24th. GMP Securities cut their price objective on Baytex Energy from C$8.00 to C$7.75 in a research report on Monday. Finally, CIBC upgraded Baytex Energy from a “neutral” rating to an “outperform” rating in a research report on Friday, August 24th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Baytex Energy currently has an average rating of “Buy” and a consensus target price of C$5.85.

Shares of Baytex Energy stock traded up C$0.20 during trading on Monday, hitting C$2.88. 4,594,576 shares of the company were exchanged, compared to its average volume of 4,837,288. Baytex Energy has a fifty-two week low of C$2.49 and a fifty-two week high of C$6.23.

Baytex Energy Company Profile

Baytex Energy Corp., an oil and gas company, engages in the acquisition, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. It offers heavy oil, heavy gravity crude oil, bitumen, light oil, and natural gas liquids. Its primary oil resource plays include the Eagle Ford in Texas, and the Peace River Oil Sands and Lloydminster heavy oil projects in North America.

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Analyst Recommendations for Baytex Energy (TSE:BTE)

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