Source Energy Services (SHLE) Price Target Cut to C$8.00 by Analysts at Royal Bank of Canada

Source Energy Services (TSE:SHLE) had its price objective lowered by equities researchers at Royal Bank of Canada from C$9.00 to C$8.00 in a report released on Tuesday. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 53.85% from the stock’s previous close.

Several other research firms have also recently issued reports on SHLE. CIBC lowered their price objective on Source Energy Services from C$12.50 to C$11.00 in a research report on Wednesday, February 21st. Scotiabank lowered their price objective on Source Energy Services from C$16.00 to C$14.00 and set an “outperform” rating on the stock in a research report on Friday, March 16th. BMO Capital Markets lowered their price objective on Source Energy Services from C$14.00 to C$9.00 and set an “outperform” rating on the stock in a research report on Friday, March 16th. Canaccord Genuity lowered their price objective on Source Energy Services from C$11.50 to C$11.00 and set a “buy” rating on the stock in a research report on Friday, March 16th. Finally, Morgan Stanley lowered their price objective on Source Energy Services from C$13.00 to C$12.00 in a research report on Wednesday, April 11th. Six investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of C$10.29.

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Shares of SHLE traded up C$0.12 during mid-day trading on Tuesday, reaching C$5.20. The company had a trading volume of 43,386 shares, compared to its average volume of 97,944. Source Energy Services has a 52 week low of C$4.40 and a 52 week high of C$10.37.

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About Source Energy Services

Source Energy Services Ltd. produces, supplies, and distributes Northern White frac sand primarily to the Western Canadian Sedimentary Basin. The company was founded in 2017 and is headquartered in Calgary, Canada.

Analyst Recommendations for Source Energy Services (TSE:SHLE)

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