CIBC Lowers Source Energy Services (SHLE) to Neutral

CIBC lowered shares of Source Energy Services (TSE:SHLE) from an outperform rating to a neutral rating in a research note released on Tuesday. CIBC currently has C$4.50 price objective on the stock, down from their previous price objective of C$8.50.

A number of other equities analysts have also weighed in on SHLE. TD Securities upgraded Source Energy Services from a hold rating to a buy rating and increased their price target for the company from C$6.00 to C$7.00 in a research report on Friday, June 29th. Industrial Alliance Securities increased their price target on Source Energy Services from C$8.00 to C$8.50 in a research report on Thursday, August 2nd. Canaccord Genuity decreased their price objective on Source Energy Services from C$9.50 to C$8.75 in a research report on Friday, August 17th. Morgan Stanley decreased their price objective on Source Energy Services from C$7.50 to C$6.50 in a research report on Wednesday, September 19th. Finally, GMP Securities lowered Source Energy Services from a buy rating to a hold rating and decreased their price objective for the stock from C$7.00 to C$5.00 in a research report on Tuesday, October 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Source Energy Services has a consensus rating of Buy and a consensus target price of C$7.33.

TSE:SHLE opened at C$3.01 on Tuesday. Source Energy Services has a 1-year low of C$2.92 and a 1-year high of C$9.88.

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.

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Analyst Recommendations for Source Energy Services (TSE:SHLE)

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