Headwater Exploration (HWX) – Research Analysts’ Weekly Ratings Changes

Headwater Exploration (TSE: HWX) has recently received a number of price target changes and ratings updates:

• 12/9/2025 – Headwater Exploration was downgraded by analysts at Raymond James Financial, Inc. from a “moderate buy” rating to a “hold” rating. They now have a C$9.50 price target on the stock, up previously from C$9.00.
• 12/5/2025 – Headwater Exploration had its price target raised by analysts at National Bankshares, Inc. from C$9.00 to C$10.50. They now have an “outperform” rating on the stock.
• 12/4/2025 – Headwater Exploration had its price target raised by analysts at ATB Capital from C$8.75 to C$11.00. They now have an “outperform” rating on the stock.
• 12/4/2025 – Headwater Exploration had its price target raised by analysts at Desjardins from C$8.75 to C$9.50. They now have a “hold” rating on the stock.
• 11/24/2025 – Headwater Exploration had its price target raised by analysts at Desjardins from C$8.00 to C$8.75. They now have a “hold” rating on the stock.
• 10/15/2025 – Headwater Exploration had its price target raised by analysts at CIBC from C$8.50 to C$10.00.

Headwater Exploration Inc is an oil and gas exploration and development company. It is engaged in the exploration, development, and production of petroleum and natural gas onshore in McCully Field, New Brunswick and Marten Hills, Alberta. The firm generates substantial revenue from the sale of commodities which include crude oil, natural gas and natural gas liquids.