Parex Resources Inc Stock Forecast:
According to eight analysts, the average target price for Parex Resources Inc over the next 12 months is CAD 28.40. This suggests that the analysts have a positive outlook on the company’s stock and expect it to increase in value. The average analyst rating for Parex Resources Inc is “Buy,” indicating a favorable sentiment among analysts.
Stock Target Advisor has given a “Neutral” rating based on their own analysis, considering eight positive signals and seven negative signals. This suggests that while some factors indicate potential growth, there are also factors that could hinder the stock’s performance.
As of the last closing, Parex Resources Inc’s stock price was CAD 27.41. Over the past week, the stock price has increased by +3.20%, indicating some positive momentum in the short term. However, over the past month, the stock price has decreased by -3.11%, which could be a result of various market factors. Looking at the long-term performance, over the last year, the stock price has shown significant growth, increasing by +28.50%.
Overall, based on the analyst target price and positive stock performance over the past year, there is optimism regarding Parex Resources Inc’s future. However, it’s important to consider the differing opinions of analysts and take into account the potential risks and uncertainties highlighted by Stock Target Advisor’s analysis. Investors should conduct further research and consider their own investment goals and risk tolerance before making any decisions related to Parex Resources Inc stock.
Analysts Coverage Change:
- Scotia Capital maintains an “Outperform” rating for Parex Resources Inc. and raises the target price to $29 from $26.
- Canaccord Genuity maintains a “Buy” rating for Parex Resources Inc. with a target of $33.
- STA Research maintains a “Hold” rating for Parex Resources Inc. and raises the target price to $25.50 from $23.
- These changes were made on July 10, 2023.
FA Score (Fundamental Analysis):
The fundamental analysis for Parex Resources Inc. is “Neutral” with a FA score of 5.3 out of 10, where 0 is very bearish and 10 is very bullish.
