Analyst Actions: RBC Dominion Downgrades Ivanhoe Energy on Increasing Risk
RBC Dominion Securities Inc. analyst Mark Friesen said an investment in Ivanhoe Energy Inc. (IE.TO) is becoming riskier, the Globe and Mail reported. Mr. Friesen reportedly cited in a research note today several areas of concern, including signs that development of the Zitong block in China may be slowing and a more difficult financing environment for its Tamarack heavy oil project in Alberta.
RBC Dominion Securities downgraded the stock to "sector perform-speculative risk" from "outperform" while slashing the price target by $1 to $1.50.
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