Analyst Actions: TD Downgrades Canadian Oil Sands to Hold, Cuts Price Target to $20

By Midnight Trader,  June 27, 2012, 03:38:54 PM EDT

TD Newcrest has downgraded Canadian Oil Sands (COS.TO) to hold from buy, while slashing its price target to $20 from $27, according to stocktargetprices.com.

Despite the downgrade, shares are higher heading into the close, currently up 26 cents, or 1.3%, at $18.94. It had dipped briefly into the red this morning, to as low as $18.55. That's just barely above the 52-week of of $18.17.

The company has been under pressure from weakening oil prices, which has sparked questions over the economic viability of extracting high-cost crude from the oil sands.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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