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Stock impact report

Analysts Turn Cautious on Baytex Energy Corp. (BTE) Following 77% Surge [Yahoo! Finance]

Baytex Energy Corp Common Shares (BTE) 
Last baytex energy corp common shares earnings: 3/4 06:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
Baytex Energy Corp. (NYSE:BTE) to Hold from Buy and reaffirmed a price target of C$5. Thanks to the company's rebranding project and reinstatement of its Normal Course Issuer Bid, the stock has appreciated significantly. Over the past six months, BTE has surged by nearly 77%. Earlier on January 13, TheFly reported that RBC Capital downgraded Baytex Energy Corp. (NYSE:BTE) to Sector Perform from Outperform, while keeping a C$5 price target unchanged. RBC sees “higher relative rates of return elsewhere” within their coverage space, considering BTE's earlier share rally. Greg Pardy, an analyst at RBC Capital, describes the company's sale of its Eagle Ford asset, in a $2.14 billion transaction, as a “strategically sound move.” This disposition has streamlined the company's offerings, particularly emphasizing Canadian assets, with a commitment to return the net proceeds meaningfully to its shareholders. The market, too, has reacted favorably to the sale announcement on December 19, 2 Show less Read more
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