Analyst Actions: Total Energy Hit with a Downgrade on Recent Outperformance
CIBC World Markets Inc. analyst Jeff Fetterly has downgraded Total Energy Services Inc. (TOT.TO) citing the stock's recent outperformance to its peer group, according to The Globe and Mail.
Mr. Fetterly reportedly said in a research note today that since third quarter results on Nov. 9, Total's shares have risen by 12%, compared to a 3% gain for the CIBC Oilfield Services 35 Index.
CIBC World Markets downgraded the stock to "sector performer" from "sector outperformer," but maintained a $22 price target.
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