Markets

Analyst Actions: Trinidad Drilling Downgraded to Hold at Canaccord Genuity

Trinidad Drilling Ltd. (TDG.TO) shares are up 60% year-to-date and are now trading at a premium to the company's peers based on estimated 2012 earnings, Canaccord Genuity analyst John Tasdemir is cited in the Globe and Mail as saying. While he believes the outlook is still positive given strong rig activity levels, he believes Street share forecasts are too high and downgraded Trinidad to Hold, although it didn't say what the previous rating was.

Tasdemir raised his price forecast to $11.25 after tweaking his 2012 earnings forecasts.

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