Canaccord says Tamarack trading at 'slight' premium to peers, downgrades

Total Energy Services

31/03/2021 19:33

** Canaccord Genuity cuts Canada-based oil and natural gas
co  TVE.TO  to hold from speculative buy; shares down 2.5%  
    ** TVE's share price has been on a remarkable run since
December, with it up over 150% in last 4 months, brokerage says
    ** Says appreciation in share price was well warranted,
given an attractive asset base, compelling valuation; however,
at current levels, TVE is largely in line with brokerage's
target, with stock now trading at a slight premium to peers 
    ** Expects producers to remain cautious with their spending
plans amid demand uncertainty
    ** Says it remains biased to cos with production exposure
and solid market positioning, with focus names being Secure
Energy  SES.TO , CES Energy Solutions  CEU.TO , Total Energy
Services  TOT.TO 
    ** For those seeking a greater degree of commodity price
exposure, brokerage suggests midstream co Keyera Corp  KEY.TO  


 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))