Profire Energy price target raised to $3.50 from $1.50 at Roth MKM

Roth MKM raised the firm’s price target on Profire Energy to $3.50 from $1.50 and keeps a Buy rating on the shares. The firm cites its net asset value model update for the company to reflect its recent strong results, even though these have been driven in large part by strong crude prices, the analyst tells investors in a research note. Any material weakening of crude oil or natural gas prices would likely weaken Profire’s results and jeopardize the new target price, Roth MKM added.