Canaccord Genuity Group Gives Touchstone Exploration a Speculative Buy Rating

Touchstone Exploration (LON:TXP) recently received attention from Canaccord Genuity Group, which reaffirmed a "speculative buy" rating for the stock. In a research note released on Thursday, they set a target price of GBX 60 ($0.77) per share. This target price indicates a potential upside of approximately 179.46% from the stock's prior closing price.

Stock Analysis and Performance

On the day of the announcement, shares of LON:TXP opened at GBX 21.47 ($0.28). The company's 50-day moving average is GBX 24.60, while its 200-day moving average stands at GBX 28.56. Touchstone Exploration has a market capital of £63.22 million and a PE ratio of -7.19, with a beta of 0.70. Over the past year, the stock reached a low of GBX 20.63 ($0.27) and a high of GBX 54 ($0.70).

Company Overview

Touchstone Exploration Inc is a Canada-based oil and gas company that primarily operates in Trinidad and Tobago. It is recognized as one of Trinidad's largest independent onshore oil producers. The organization prides itself on an experienced management team with a solid record of generating shareholder value. Touchstone's strategy focuses on developing its extensive exploration and development rights, covering approximately 90,000 gross acres in Trinidad, aiming to enhance shareholder value further.

Related Analyst Ratings

Touchstone Exploration has been discussed in several other reports as well. Shore Capital maintained a "house stock" rating for the company in a recent note. Earlier in December, Canaccord Genuity also reaffirmed that speculative rating, reiterating its optimistic view towards the company's future performance.

Investors will want to stay updated on Touchstone Exploration's developments and market performance as analysts provide their insights and recommendations.

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