Uber stock surges after Nvidia partnership announcement
Investing.com - TD Securities downgraded Tourmaline Oil Corp. (TSX:TOU) (OTC:TRMLF) from Buy to Hold and lowered its price target to C$68.00 from C$73.00.
The downgrade comes as Tourmaline, Canada’s largest natural gas producer, now trades at the highest valuation among its North American peers, according to TD Securities analyst Aaron Bilkoski.
Tourmaline produces approximately 3 billion cubic feet of natural gas per day and has built its position primarily through organic development supplemented by mergers and acquisitions.
The company maintains a substantial footprint with 5.1 million net acres across the British Columbia Montney and Alberta Deep Basin regions.
TD Securities’ new C$68.00 price target represents a C$5.00 reduction from its previous target of C$73.00 for the Canadian natural gas producer.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.