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Benzinga

Akanksha Bakshi

BMO Capital Upgrades This Energy Services Company - Read Why

TOT BMO Capital TSX John Gibson

BMO Capital analyst John Gibson upgraded Total Energy Services Inc (TSX:TOT) (OTC:TOTZF) to Outperform from Market Perform and raised the price target to C$11 from C$10 post 1Q22 results.
The analyst states that the company's inexpensive valuation (<3x 2023 EV/EBITDA) screens well relative to the coverage group.
Combining this with his extremely strong outlook for oilfield service activity levels and pricing into 2023, the analyst now rates Total Energy Services shares as Outperform.
Price Action: TOT shares are trading higher by 2.55% at C$8.05 on TSX, and TOTZF is higher by 3.84% at $6.22 on the last check Thursday.

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