The Globe and Mail reports in its Thursday, Aug. 1, edition that BMO Capital analyst John Gibson is sticking with his "outperform" recommendation for Trican Well Service. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gibson increased his share target to $6 from $5.50. Analysts on average target the shares at $5.75.
Mr. Gibson says in a note: "Trican Well Service's Q2/24 results were above expectations, as several work programs accelerated into the quarter to mitigate potential drought issues. Overall, however, the company continues to perform as expected, as its strong client base provides a strong foundation to fund its top-tier capital return program." The Globe reported on July 28, 2022, that Mr. Gibson had reaffirmed his "outperform" recommendation for Trican Well Service. The shares could then be had for $3.55. The Globe reported on Nov. 22 National Bank Financial analyst Dan Payne had cut Trican to "sector perform" from "outperform." It was then worth $4.20. The Globe reported on Jan. 26 that Mr. Payne continued to rate the shares "sector perform," which were then worth $4.50.
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