TipRanks: "On 12-21-2023 RBC Capital analyst Gregory Pardy maintained a Buy rating on Baytex Energy (BTE) and set a price target of C$8.00 ($5.62US). The company’s shares closed yesterday at $3.40US."
According to TipRanks, Pardy is a 5-star analyst with an average return of 22.4% and a 60.11% success rate. Pardy covers the Energy sector, focusing on stocks such as Cenovus Energy, Baytex Energy, and Enerplus.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Baytex Energy with a $5.59 average price target, representing a 64.41% upside. In a report released on December 15, BMO Capital also assigned a Buy rating to the stock with a C$7.50 price target.
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My current valuation is $6.70US for BTE. It closed today at $3.35US.
Baytex closed the acquisition of Ranger Oil (one of my Top Picks in the Sweet 16 at the beginning of 2023) on June 20, 2023. I'm expecting BTE to report an ~8,000 Boepd increase in production from Q3 to Q4 to ~159,000 Boepd.
Baytex Energy (BTE) Price Target - Dec 22
Baytex Energy (BTE) Price Target - Dec 22
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group