Canaccord Genuity Group Reiterates “Speculative Buy” Rating for Touchstone Exploration (LON:TXP)

Touchstone Exploration (LON:TXP)‘s stock had its “speculative buy” rating reissued by stock analysts at Canaccord Genuity Group in a report released on Thursday,Digital Look reports. They presently have a GBX 60 ($0.77) price target on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 179.46% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Shore Capital restated a “house stock” rating on shares of Touchstone Exploration in a research report on Tuesday, January 28th. Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 60 ($0.77) target price on shares of Touchstone Exploration in a research report on Friday, December 13th.

Touchstone Exploration Stock Down 2.4 %

LON:TXP opened at GBX 21.47 ($0.28) on Thursday. Touchstone Exploration has a 52 week low of GBX 20.63 ($0.27) and a 52 week high of GBX 54 ($0.70). The company has a market capitalization of £63.22 million, a P/E ratio of -7.19 and a beta of 0.70. The stock’s fifty day moving average is GBX 24.60 and its two-hundred day moving average is GBX 28.56.

Touchstone Exploration Company Profile

Touchstone Exploration Inc is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. It is one of the largest independent onshore oil producers in Trinidad, with an experienced management and executive team that have a track record of delivering value to shareholders.

The Company’s strategy is to leverage the Board’s extensive oil recovery experience and capability to develop international onshore properties that create shareholder value.

In Trinidad, the Company’s interests in approximately 90,000 gross acres of exploration and development rights make it one of the largest independent onshore oil producers in Trinidad.