Analyst Actions: Birchcliff Energy Upgraded to Buy at Canaccord Genuity

The recent pullback in Birchcliff Energy Ltd. (BIR.TO) shares creates an opportune time to buy, Canaccord Genuity analyst Steve Toth reportedly said. While the company reported second-quarter earnings that were only in line with expectations, the stock should gain momentum over the next 12 months and reflect Birchcliffs significant growth profile in late 2012 and profitable operations, he reportedly said.

Toth upgraded the stock to a Buy and raised his target price by 50 cents to $14.50, the Globe said.

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

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