TD Securities analyst Menno Hulshof upgraded Athabasca Oil to Buy from Hold with an unchanged price target of C$4.50 after the company announced its 2024 capital budget. With the shares down 19% since the firm launched coverage in late-September and the view that Athabasca is “fundamentally one of the strongest companies we cover,” the firm is “confidently upgrading” the stock as it sees the sharp pullback creating an attractive entry point.
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Read More on ATHOF:
- Athabasca Oil Announces 2024 Budget and Return of Capital Update
- Athabasca Oil price target raised to C$5 from C$4.50 at RBC Capital
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- Athabasca Oil Announces 2023 Third Quarter Results with Record Adjusted Funds Flow, Free Cash Flow and Leismer Production along with Continued Share Buybacks
