UPDATE: Raymond James Initiates Coverage On TransGlobe Energy On Multiple Positive Factors
In a report published Friday, Raymond James analyst Pavel Molchanov initiated coverage on TransGlobe Energy (NASDAQ: TGA) with an Outperform rating and $9.00 price target.
In the report, Raymond James noted, “We are initiating coverage of TransGlobe Energy Corp. (previously covered by Raymond James Ltd.). Among E&P companies with a U.S. listing, TransGlobe is one of the few offering pure-play overseas exposure.
"The Egypt portfolio has its issues, including delayed receivables, but we like 1) the low-risk drilling program with exploration optionality; and 2) free cash flow that supports a juicy dividend yield. Bearing in mind the deep value multiples, we are initiating with an Outperform rating and a High Risk suitability rating.”
TransGlobe Energy closed on Thursday at $7.11.
Latest Ratings for TGA
Date | Firm | Action | From | To |
---|---|---|---|---|
May 2018 | RBC Capital | Upgrades | Sector Perform | Outperform |
Jun 2014 | Raymond James | Initiates Coverage On | Outperform | |
Oct 2013 | Dundee | Upgrades | Neutral | Buy |
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Pavel Molchanov Raymond JamesAnalyst Color Initiation Analyst Ratings