Transglobe Energy (TGL) Price Target Raised to C$3.50

Transglobe Energy (TSE:TGL) (NYSE:TGA) had its target price upped by Canaccord Genuity from C$3.00 to C$3.50 in a report released on Wednesday.

Separately, Scotiabank reiterated a sector perform rating and issued a C$2.75 price target on shares of Transglobe Energy in a research note on Thursday, March 8th.

TSE:TGL opened at C$1.71 on Wednesday. Transglobe Energy has a one year low of C$1.30 and a one year high of C$2.37.

Transglobe Energy (TSE:TGL) (NYSE:TGA) last posted its quarterly earnings data on Wednesday, March 7th. The company reported C$0.09 EPS for the quarter, topping the consensus estimate of C($0.06) by C$0.15. The firm had revenue of C$92.66 million during the quarter, compared to analyst estimates of C$84.41 million. Transglobe Energy had a negative return on equity of 12.83% and a negative net margin of 15.28%.

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About Transglobe Energy

TransGlobe Energy Corporation is an oil exploration and production company. The Company’s activities are concentrated in the Arab Republic of Egypt (Egypt). The Company conducts its operations through the Arab Republic of Egypt segment. The Company is primarily engaged in oil exploration, development, production and the acquisition of properties.

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