Cardinal Energy: 'On the right track' - RBC

Cardinal Energy (Alberta)

23/09/2019 12:28

** RBC Capital Markets starts coverage on Canadian oil and
gas producer  CJ.TO  with "sector perform" 
    ** In a note titled "on the right track," RBC says co's
mature oil-weighted assets support peer-leading free cash flow
generation
    ** Limited near-term catalysts keep brokerage on sidelines
for now, but efforts to improve operating costs, among other
things, will become evident over time
    ** Sets PT of C$3.50, an upside of 28% to stock's last
close, and in line with analysts' median PT
    ** Current avg rating on stock is "hold" 
    ** Stock had gained 23.4% YTD

 (Reporting by Debroop Roy in Bengaluru)
 ((Debroop.Roy@thomsonreuters.com))