Markets

Analyst Actions: TD Securities Downgrades Talisman Energy

Highs and Lows Stock Data

Talisman Energy Inc. (TLM.TO) appears to be in a near-term holding pattern and major structural changes that could recharge its shares may be slow to surface, warned TD Securities Inc. analyst Menno Hulshof today as he downgraded the stock to "hold" from "buy," the Globe & Mail reported.

Talisman has outlined strategic priorities, including matching spending with internally generated cash flow, reducing spending on high-risk exploration while focusing on core areas, and improving cash margins.

Although these priorities have the potential to create value long-term, "we are not yet convinced they will collectively be sufficient to trigger a re-rating of the stock over the next 12 months," said Hulshof. "On this basis, we believe that TLM is more likely to trade in line with the broader index."

Hulshof cut his price target by $2 to $14 (U.S.)

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More