Canaccord Genuity analyst Steve Toth was cited as saying in a research note today that the recent pullback in Birchcliff Energy Ltd. (BIR.TO) shares "creates an opportune time to buy." Mr. Toth reported said that 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 Birchcliff's significant growth profile in late 2012 and profitable operations."
Canaccord Genuity upgraded the stock to a "buy" and raised his target price by 50 cents to $14.50.
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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.
