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Crew Energy Inc
Symbol CR
Shares Issued 156,239,499
Close 2020-03-13 C$ 0.24
Recent Sedar Documents

Globe says Paramount, others hit with downgrades

2020-03-13 07:20 ET - In the News

See In the News (C-POU) Paramount Resources Ltd (2)

The Globe and Mail reports in its Friday, March 13, edition that analysts at Raymond James dropped their 2020 and 2021 oil and natural gas price assumptions in reaction to the steep drop endured this week. The Globe's David Leeder writes that Chris Cox and Jeremy McCrea say in a research note, "While we believe it is important to provide investors some context to what the go-forward outlook could be under the current price environment, we nevertheless feel it necessary to caution that these revised estimates reflect a 'first crack' at assessing our coverage universe under the current environment, as this remains a very fluid environment with a tremendous amount of uncertainty." With those changes, the analysts downgraded Paramount Resources to "underperform" from "market perform" with a $1.25 share target, down from $8.50. Analysts on average target the shares at $6.73. They also cut Crew Energy to "underperform" from "market perform" with a 50-cent share target, down from 75 cents. Analysts on average target Crew shares at 76 cents. The analysts cut Painted Pony Energy to "underperform" from "market perform" with a 50-cent share target, down from 75 cents. Analysts on average target the shares at 95 cents.

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